Creamer Media’s Mining Weekly / Reuters: SouthGobi Resources loss narrows on higher coal prices

SouthGobi Resources Ltd posted a narrower fourth-quarter loss helped by a rise in average realized prices, and the Canadian coal miner forecast strong demand due to its mines’ proximity to China. SouthGobi — whose Ovoot Tolgoi coal mine in Mongolia is about 40 kilometers from the world’s largest coal consumer, China — expects strong demand from the country to help buck the industry trend. North American and Australian coking coal producers have mostly indicated that early 2012 will see lower prices and demand for seaborne coking coal. SouthGobi sells metallurgical and thermal coal mainly to customers in China. To read the full article, click hereSouthGobi Resources loss narrows on higher coal prices

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