Yanzhou Coal Mining Co Ltd , China's No. 3 coal producer by market value, has settled 2008 term contracts to export half a million tonnes of coal at $151.67 a tonne, it said on Tuesday.

Yanzhou said in a statement the prices were 92.1 percent higher than in 2007, while the volume was down 9.1 percent.

China's other coal exporters, including Shenhua Energy Corp and China Coal Energy Co , settled 2008 thermal coal export prices at $131.40 a tonne with Japanese buyers last month.

Yanzhou estimated the contract will raise its 2008 revenue by 224.93 million yuan.

The coal quality was not immediately clear.