Coal news and updates

China Coal Energy July coal output down 13.4% on y-o-y

China Coal Energy Co., Ltd., the country’s second largest coal producer, produced 9.05 million tonnes in July, down 5.7% on month and down 13.4% on year – the 13th consecutive year-on-year drop, it said in a statement late August 21.

Over January-July, China Coal produced 55.32 million tonnes of coal, down 20.8% year on year, said the company.

Total coal sales during the same period reached 77.8 million tonnes, down 10.9% on year, with the July sales at 13.68 million tonnes, up 11.9% on year but down 0.2% from June.

The company sold 8.51 million tonnes of self-produced coal in July, accounting for 62.2% of the total, up 4.6% year on year but down 4.6% from June. Total self-produced coal sales between January and July dropped 13.4% on year to 54.93 million tonnes.

China Coal Energy suffered a loss of 965 million yuan ($150.8 million) in net profit during the first half of the year, the first drop since its listing in 2008, according to its half-year report released on the same day.

source: http://en.sxcoal.com