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Shanxi Coking Coal output down 10% in Q1

By Zhao Tingting (chinadaily.com.cn)
Updated: 2009-04-23 14:23

Shanxi Coking Coal Group Co Ltd produced over 10 percent less coal and coke in the first quarter of this year, lowering its 2009 output target, the Shanghai Securities News reported Thursday.

Related readings:  Yanzhou sees coking coal price weak in H1  Coal producer's January-May profit up 62%  Shanxi launches coal industry reform  Shenhua says Q1 coal production up, but sales steady

The group's raw coal, clean coal and coke output declined 10.4 percent, 12 percent and 32 percent year-on-year to 16.86 million, 8.08 million and 469,500 tons respectively in the first three months of this year. It generated electricity of 1.51 billion kWh, down 4.5 percent from the previous year.

The company earned revenue of 13.11 billion yuan in the first quarter, up 1.47 percent year-on-year, claiming net profits of 765 million yuan.

The production cost of raw coal climbed 67.84 yuan per ton to 286.2 yuan per ton, according to the report.

After the output target adjustment, raw coal output was reduced to 78 million tons, clean coal 32.4 million tons, coke 5 million tons and power generation 5.07 billion kWh, according to the report. Shanxi Coking Coal Group plans to transport 86.49 million tons of coal and sell 67.92 million tons, realizing net profits of 3 billion yuan in 2009.