March 19, 2012 / 12:57 PM / in 6 years

SouthGobi Resources loss narrows on higher coal prices

March 19 (Reuters) - Canadian miner SouthGobi Resources Ltd posted a narrower fourth-quarter loss due mainly to a rise in average realized coal prices.

The company -- which has its flagship coal mine, Ovoot Tolgoi, in southern Mongolia -- posted a net loss of $18.9 million, or 14 cents a share, compared with a loss of $28.7, or 16 cents a share, a year ago.

Revenue at SouthGobi, which sells metallurgical and thermal coal to customers in China -- one of the largest consumers of coal in the world, rose 23 percent to $51.1 million.

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