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Huaibei Mining 2020 raw coal production up 2.37%

sxcoal.com Company,  Production & Sales 2021-01-22 11:09:50

Huaibei Mining (Group) Co., Ltd, a coal mining company based in eastern China's Anhui province, produced 27.13 million tonnes of raw coal in 2020, rising 2.37% compared with a year ago, the company said in an announcement lately.


Production and sales of commercial coal stood at 21.68 million and 17.04 million tonnes respectively in 2020, 4.03% and 4.86% higher compared with the year-ago levels.


The local government-run company churned out 4.12 million tonnes of coke last year, rising 7.65% compared with 2019, and sold 4.22 million tonnes, up 4.86% year on year, it said.


Huaibei Mining is one of the main coal production enterprises in East China, and produces a complete range of coal types, mainly including coking coal, fat coal, lean coal, 1/3 coking coal, and gas coal, with good coal quality and abundant resource reserves.


Coking coal, fat coal, and lean coal reserves account for more than 70% of the company's total. The company


The company has yet to release an annual financial report for 2020, but according to its semi-annual financial report, it reaped totaling 330.7 billion yuan in operating revenue during January-June, rising 2.56 billion yuan compared with the same period in 2019.


It bagged a net profit of 1.65 billion yuan during the first half, down 331 million yuan year on year, with gains per share down 0.13 yuan to 0.76 yuan.


The decline was mainly due to weak sales and prices of coal and chemical products during the first six months, affected by COVID-19 outbreak.



(Writing by Emma Yang  Editing by Harry Huo)
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