The lower volume of coking coal mined by MMK (down 25%) in Q2 2012 in comparison to Q1 2012 was related to the continuation of the scheduled mine maintenance in April to May 2012. This work was concluded at the end of Q2 2012.

Production of coking coal concentrate in Q2 2012 amounted to 761,000 tonnes. This decrease in production by 2% in comparison to Q1 2012 was a result of the lower volume of MMK mined coal in Q2 2012.

Despite the relatively insignificant decline in the volume of coal concentrate produced, shipments of concentrate to MMK in Q2 2012 increased by approximately 12% QoQ.

On the whole in 2012, despite the scheduled maintenance work, production of coking coal concentrate should remain at the same level seen in 2011.

Quarterly Results (April to June 2012)

Coking coal Total - 1,226,000 tonnes down by 5% QoQ

Coking coal Mined - 753,000 tonnes down by 25% QoQ

Coking coal Purchased - 473,000 tonnes up by 61% QoQ

Coking coal concentrate -761,000 tonnes own by 2% QoQ

Half Yearly Results (January to June 2012)

Coking coal Total - 2,518,000 tonnes up by 6% YoY

Coking coal Mined - 1,751,000 tonnes down by 5% YoY

Coking coal Purchased - 767,000 tonnes up by 45% YoY

Coking coal concentrate -1,537,000 tonnes up by 3% YoY

Source - Strategic Research Institute

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