Sadovaya Group reported on May 20 a 21% MoM decrease in own mining operations to 29,500 tonnes in April. The cited reason was a temporary discontinuation in one of two long walls at the Rassvet-1 subsidiary mine due to the worsened geological conditions.

Phoenix Capital analysts said “The management of Sadovaya is currently studying whether the production at this long wall could be continued, according to the company’s statement. The production guidance for 2011 it will be issued soon. The most recent target for own coal mining in 2011 was as high as 843,000 tonnes. The company mined 126,000 tonnes of coal during 4 months of 2011, which is 99% higher YoY. Third party coal trading volume reached 105,000 tonnes in April, up 3.8% MoM. Coal output from waste reprocessing fell 14% MoM to 3,200 tonnes.”

(Sourced from www.phoenix-capital.ua)