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Corsa halves met coal sales

TORONTO-based Corsa Coal has announced its sales for the first fiscal quarter of 2013.

Staff Reporter
Corsa halves met coal sales

Corsa sold 36,000 tons of clean metallurgical coal, down 55.4% from 65,000 tons in the same period last year.

The company also sold 10,000 tons of raw metallurgical coal and 33,000 tons of thermal coal.

Corsa also announced it had entered into contracts or received purchase orders for the sale of an additional 96,000 tons of metallurgical coal.

This increases its published contracted sales guidance for 2013 from 170,000 tons to 266,000 tons, of which it expects to ship 250,000 tons in fiscal 2013.

Corsa said it was in discussions with further domestic and international buyers but was matching production to actual sales and did not have unnecessary inventories of unsold coal.

Met-focused Corsa’s main operating subsidiaries are Wilson Creek Energy and Maryland Energy Resources, both based in Somerset County, Pennsylvania.

Corsa owns three surface mines and an underground operation.

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