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【Ferro-alloys.com】:US-based metallurgical coal producer Corsa Coal reported on Thursday that it has taken steps to improve productivity and retain qualified employees to help coal production recover in the coming months.

The miner stated that second-quarter sales tons should increase over the first quarter and return to historical levels, but that its sales realisation would be similar to the first quarter, as the company continued to fulfil previously committed fixed priced orders.

“Due to lower production levels in the first half of the year and existing contract volumes, the company does not expect to benefit from higher priced spot sales in the second quarter,” said interim president and CEO Kevin Harrigan.

While tonnages returned to historical levels in the second quarter, cash costs of sales would not be back to historical levels yet, owing to the impact of inflation, skilled labour shortages and challenging geological conditions that continued to elevate costs.

Harrigan reported that Corsa made several operational adjustments at the start of the first quarter, which were ongoing and would improve coal production over the coming quarters.

The company started development of the access to the North mine reserves from the existing Casselman mine and said it expected normal operations to begin at the North mine next year.

The main priorities of the company, as we move forward in 2022, are maximising our production, increasing our participation in the metallurgical coal spot market and reducing our costs while we maintain a focus on improving our balance sheet with minimised downside financial risk,” said Harrigan.

Corsa would announce its second-quarter results on August 3.

• [Editor:Alakay]