September 13, 2011 / 11:54 AM / 7 years ago

UPDATE 1-Forbes & Manhattan Coal Q2 sales jump

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Sept 13 (Reuters) - Coal miner Forbes & Manhattan Coal Corp said second-quarter export sales more than doubled sequentially, helped by higher coal production at its Aviemore anthracite coal mine in South Africa.

The Toronto, Ontario-based miner said total export sales for the second quarter jumped to 192,400 tonnes of coal, compared with 91,800 tonnes in the first quarter.

Forbes, which mines for bituminous and anthracite coal from mines in the Klipriver coalfield in South Africa, said total sales for the three months ended August 31 rose by 78 percent to 339,800 tonnes from last quarter.

Total Aviemore saleable production rose by over a quarter sequentially to 40,000 tonnes, Forbes said in a statement.

The company said the second phase of expansion at its Magdalena coal mine is on track for the third quarter.

Shares of the company closed at C$2.45 on Monday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Sayantani Ghosh)

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