SouthGobi Resources (HKG:1878) expects to post a net loss attributable to equity holders of $44.1 million to $53.9 million for the six months ended June 30, swinging from a $10.2 million profit a year earlier, the company said in a Monday Hong Kong bourse filing.

Revenue is projected at $250.3 million to $306.0 million, up from $175.0 million, driven by higher sales volume.

The loss was attributed to lower average selling prices, a shift to higher-cost processed coal, and a $12.3 million impairment on coal stockpiles.

Shares of the coal miner were down nearly 3% in Tuesday morning trade.