China’s major coal producer, China Coal Energy Company Limited announced that its net profit is expected to amount to RMB 18.36-20.29 billion ($2.6-2.9 billion) during the January-September period this year, up 54.9 percent to 71.1 percent year on year.
The company stated that the coal prices moved at high levels during the given period, while it increased its production output and ensured its energy supply, contributing to the rise in the net profit.
In August, China Coal Energy Company produced 10.92 million mt of coal, up 22.3 percent year on year, while sold 25.96 million mt of coal in the given period (including its own production coal), up 1.3 percent year on year.
$1 = RMB 7.1101