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The miner’s thermal sales for the fiscal year ending in November totalled 122,000t at an average price of $39, versus 142,000t sold in 2011 at the same price.
Despite the expected weakness of metallurgical coal markets, Corsa said it exceeded its target for fourth quarter coal sales, with 57,000t sold in the last three months of calendar 2012.
It said it had established sales contracts and purchase orders for 170,000t of met coal for 2013, a figure already equal to half of 2012’s full-year offtake contracts.
Corsa also updated the holdings of its flagship Casselman underground in Maryland to 9.9 million tons of proven reserves and 15.6Mt of indicated resource.
The company said it was continuing to expand the mine and had obtained leases on 711 acres and options to lease an additional 736 acres in close proximity to the current permitted area.
Casselman produces a high-quality, low-volatile coal that Corsa management describes as well-suited to domestic steel producers and coking operations, as well as the seaborne market.
