China National Coal Reports Jump in Q1 Profits
China National Coal Group Corp, China's second largest coal producer, has announced a 22 percent jump in first quarter profits on higher hydrocarbon prices and lower production costs.
The company produced 27.7 million tonnes of coal in the first quarter, up 12.4 percent on the year.
Coke output rose 22.9 percent on the year, reaching 1.43 million tonnes, according to the company.
China is the world’s largest coal producer and consumer where fuel from coal generates 80 percent of the country’s electricity.
By staff writer