Elk Valley profits slip on rising costs

摘要

Higher production and transport costs, lower sales prices and a stronger Canadian dollar combined to slash Q4 2006 profits from Canada's Elk Valley coking coal mine. Fourth quarter profits from sales of 5.75mt were 253.l million Canada dollars (218.4 million dollars), compared with 426.5 million Canada dollars from 5.78mt sales in Q4 2005. The average sale price in the last quarter was 106 dollars/t compared with 122 dollars/t in the corresponding 2005 period, which the company attributed to lower 2006 coal year contract prices. Costs for the period increased to 38 Canada dollars/t from 35 Canada dollars/t due to higher mining costs and lower production levels.