PBS is a U.S. coal subsidiary of Severstal, a Russian steel group. Severstal said that it would resume suspended operations at PBS when conditions of the market improve. The idling of the mines led to a drop in thermal coal output, Platts reports.
PBS produced 2.464 million metric tons of coking coal in 2011. In the second quarter of 2012, the company produced 653,423 metric tons of coking coal, a 12 percent increase compared to the first quarter. Steam coal dropped from 9,774 metric tons in the first quarter to 304 metric tons in the second quarter.
Severstal said the production split of PBS is 55 percent coking coal and 45 percent steam coal.
PBS was rumored to be recently involved in expert tenders held by a buyer for mid-vol coking coals into the Europe, Middle East and Africa region, while continuing to supply coal to steel mills in the United States, Platts reports.