The company produced nearly 300,000t of coal in the fourth quarter of 2013 for a total of 1,317,088t in 2013.

This represented an increase of 9% from the fourth quarter of 2012, which totalled approximately 275,000t and 4% from the 2012 total of 1.2Mt.

The company's operational stripping ratio of 9.31:1 in 2013 was a decrease of 13% on 2012.

Coal revenues for the fourth quarter were $23 million, with 243,847t of coal sold at an average realised price of $94.52 per tonne.

The average realised price of coal sold in 2013 represented a 3% increase over 2012.

Earnings from operations for the fourth quarter and year ended December 31, 2013 were a loss of $5.4 million and earnings of $1.5 million respectively, compared to a loss of $58.2 million and a loss of $137.4 million in 2012.

The earnings from operations for 2013 was the highest the company has ever recorded, and can be attributed to the favourable domestic sales contracts and continued company-wide cost and expense reductions, in addition to the port impairment reversal recognised in the year, Pacific said.

Adjusted EBITDA for the year 2013 was $2.4 million, a significant improvement over a loss of $30.7 million in 2012.