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Nov 03, 2017 17:56 EEST
SOFIA (Bulgaria), November 3 (SeeNews) – Bulgarian state-owned coal mining company Mini Maritsa Iztok said it turned to a net profit of 41.0 million levs ($24.4 million/21.0 million euro) in the first nine months of 2017, from a net loss of 11.4 million levs in the like period of last year.
Sales revenue rose to 398.2 million levs in the January-September period, compared to 329.6 million levs in the corresponding period of 2016, Mini Maritsa Iztok said in an interim financial report posted on the website of the finance ministry.
Mini Maritsa Iztok produced 22.0 million tonnes of coal in the first nine months of 2017, compared to 18.5 million tonnes in the like period of last year, the company said.
The mining complex in southern Bulgaria sells its coal output mainly to three thermal power plants located nearby, two of them owned by US-based ContourGlobal and AES and one state-owned. The two power plants owned by the US-based companies generate around 30% of Bulgaria's electricity output.
(1 euro=1.95583 levs)
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