LONDON (Alliance News) - Atlantic Coal PLC Monday said its clean coal sales increased 70% in its third quarter compared to the previous three months as the company reduced its stockpile of clean coal.
The AIM-listed anthracite coal mining company, with operations in Pennsylvania, said its total clean coal sales increased to 40,462 tonnes for the three months ended September 30 from 23,761 tonnes the previous quarter.
The company said its clean coal production fell 6.6% to 28,629 tonnes from 30,641 tonnes the previous quarter as the company focused on reducing its stockpile and scaling back mining operations.
By the end of the quarter, Atlantic Coal's clean coal stockpile stood at 3,646 tonnes compared from 17,162 tonnes the previous quarter.
The company said that by October, total sales for 2013 had already exceeded its 2012 full year total of 140,213 tonnes.
Atlantic Coal shares were up 14% to 0.261 pence Monday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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