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China Coal's profits surges 61 pct in Jan-May
(www.chinamining.org)
Updated: 2008-06-06 08:49
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   China National Coal Group (China Coal), a key state-owned coal producer in the country, realized total profits of 4.1 billion yuan in the first five months of this year, surging 61.8 percent year on year, according to announcement made by the group.


   The group reported record high in sales, operation turnover and profits in the period.


   Its operating turnover reached 31.0 billion yuan in the January-May period, increasing 42.7 percent year on year.


   In the first five months, the group's output of coal was 47.09 million tons, rising 13.2 percent year on year; output of coke was 2.48 million tons, up 24.4 percent; and that of coal mining machinery was 94,000 tons, up 15.2 percent.


   At the same time, the group sold 41.94 million tons of coal in the five months, up 19.9 percent year on year, including 35.09 million tons sold domestically, up 28.3 percent, and 6.828 million tons sold overseas, up seven percent.


   China Coal's total assets reached 82.04 billion yuan in the end of 2007, operating turnover was 57.7 billion yuan, and profits, 7.98 billion yuan. Its output of coal reached   105.03 million tons in 2007, making the group the second largest coal maker in China.


   China produced 213.09 million tons of coal in April, up 9.9 percent year on year, according to statistics from State Administration of Work Safety.


   Included were 113.4 million tons produced by key state-owned coalmines, up 14.5 percent; 29.01 million tons by local state-owned coalmines, up 5.8 percent; and 70.68 million tons by township coalmines, up 4.7 percent.


   China produced a total of 774.47 million tons of coal in January-April, up 10.7 percent over the same last year period.


   Included were 445.05 million tons by key state-owned key coalmines, up 13.3 percent; 101.72 million tons by local state-owned coalmines, up 6.4 percent; and 227.7 million tons by township coalmines, up 7.9 percent.    

 
 

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