Shanxi Coking Coal Group witnessed over 10% decline in both coal and coke production in Q1. As a response to the drop, Shanxi adjusted its objective of the year’s production volume.

Statistics show Shanxi Coking Coal Group produced 16.85 million tonnes of raw coal in Q1 declining by 10.4%YoY, 8.07 million tonnes of clean coal, dropping 12% and 469,500 tonnes of coke, slumping by 32%. In Q1 its power output dropped 4.5%YoY and then stayed at 1.5 billion KW per hour.

Shanxi Coking Coal Group achieved sales revenue of CNY 13.1 billion up by CNY 190 million or 1.47%YoY. The production cost of raw coal stayed at CNY 286.2 per tonne increasing by CNY 67.84 per tonne and it made a total profit of CNY 765 million.

After adjusting its objective for production, its annual production goal for raw coal remains at 78 million tonnes, clean coal 32.4 million tonnes, power output 5.07 billion KW per hour and coke production at 5 million tonnes. It set its goal of coal transportation volume at 86.49 million tonnes, sales volume of commodity coal at 67.92 million tonnes, sales revenue at CNY 76.3 billion, total profit at CNY 3 billion its targeted raw coal production and clean coal production are down by 2.85% and 14.08% respectively, and its targeted total profit is also down by 37.63%YoY.

source: Shanghai Security News

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