Coal news and updates

China January-August coal industry profits down 64.9%

China’s coal mining and washing industry witnessed its profits slump 64.9% on year to 25.63 billion yuan ($4.19 billion) over January-August, showed data from the National Bureau of Statistics (NBS) on September 28.

During the same period, the coal mining and washing industry realized revenue of 1.65 trillion yuan, dropping 13.9% year on year.

Total profit of the country’s entire mining industry declined of 57.3% on year to 190.2 billion yuan over January-August, data showed.

Meanwhile, profit in ferrous and non-ferrous metal mining industry fell 44.4% and 19.9% on year to 27.1 billion and 28 billion yuan, respectively.

However, the power and heat generation industry saw its profit climb 13.8% from the year prior to 324.7 billion yuan, mainly due to the slump in coal prices.

source: http://en.sxcoal.com