China's coal enterprises foresee profit jump in 2008
(www.chinamining.org)
Updated:
2008-07-24 09:20
Counter:
China's 13 listed coal companies areexpected to see an average 72.6 percent increase of profit this yeardue to resilient coal prices.
Coal enterprises like Kailuan Clean Coal Co., Ltd., Yanzhou CoalMining Co., Ltd., Shanxi Xishan Coal and Electricity Power Co., Ltd.,and Hebei Jinniu Energy Resources Co., Ltd., predicted over 100percent growth in the first half.
Performance improvement mostly comes from product price hikesresulted from tight supply.
The infusion of quality assets from parent companies will bolsterthe operating performances of listed coal companies.
Statistics show that China's coal export in June set a record highover the past three years.
International coal prices will receive upbeat support fromanticipated export plunge in the coming months due to governmentalslash of coal export quotas.
|