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)
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