In a just released report, net profits for the first half of the year at China Coal Energy nearly doubled to US $352.6 million. Analysts believe these profits were due to increased coal mined from China Coal’s mines as well as higher coal prices. 

"We expect domestic coal prices will increase more than 10% over the next several years on strong demand," Chairman Jing Tianliang said. 

"We hope our annual coal output could increase 15 million tons each year until 2010," Mr. Jing said. 

Mr. Jing said China coal will need at least six billion yuan a year in capital expenditure from 2008 to 2010 to meet its output target. 

Be first to comment this article

Only registered users can write comments.
Please login or register.

Powered by AkoComment Tweaked Special Edition v.1.3.0