Coal news and updates

China January-July coal industry profits slump 66%

China’s coal mining and washing industry saw its profits slump 66% year on year to 23.06 billion yuan ($3.77 billion) over January-July, showed data from the National Bureau of Statistics (NBS) on August 28.

During the same period, the coal mining and washing industry realized revenue of 1.46 trillion yuan, dropping 13.2% from a year ago.

Total profit of the country’s entire mining industry dropped of 57.4% on year to 167.5 billion yuan over January-July, data showed.

Meanwhile, profit in ferrous and non-ferrous metal mining industry dipped 45.4% and 20.1% on year to 22.86 billion and 24.42 billion yuan, respectively.

However, the power and heat generation industry saw its profit climb 15.4% from the year prior to 279.34 billion yuan, attributed largely to the slump in coal prices.
 
source: http://en.sxcoal.com