China Coal Energy Co., Ltd, the listed arm of China National Coal Group, produced 6.9 million tonnes of commercial coal in January, sliding 5.7% year on year but up 4.1% from the month before, the company said in a statement late February 16.
During the same period, the company sold 6.63 million tonnes of commercial coal, falling 31.3% from the year before and down 42.3% month on month, with sales of self-produced commercial coal dropping 35.8% on the year and down 28.2% from December to 4.83 million tonnes.
The decrease in sales was partly due to a drop of coal burn from key power plants, which fell from December's 122.8 million tonnes to 109.8 million tonnes in January.
China Coal Energy predicted net profit at 1.8-2.2 billion yuan ($264.7-323.5 million) in 2016.
In 2017, the company planned to cut 17.2 Mtpa of coal production capacity and rearrange 9,300 workers.
(Writing by Katherine Wu Editing by Jessie Jia)
For any questions, please contact us by firstname.lastname@example.org or +86-351-7219322.