China coal mine firms see sales in 2012 flat or falling

Mining majors China Shenhua Energy and Yanzhou Coal Mining are looking at flat or declining sales volumes this year, as falling coal prices see them cut procurement from third parties to make room for sales from their own mines.

China Shenhua said it aimed to sell 464.6 million tonnes of coal this year, the same as last year. Marketable coal output was planned to grow 3.6 per cent to 315 million tonnes. Its procurement of third-party coal will fall 6.8 per cent to 149.6 million tonnes.

via Business feed http://www.scmp.com/business/commodities/article/1199781/china-coal-mine-firms-see-sales-2012-flat-or-falling