Slow growth takes toll on coal output
Print Edition
FLAGGING demand in China has dented output at the country’s top-two coal firms as slower economic growth took a toll on the world’s largest producer and consumer of the mineral.
China Shenhua Energy Co, China’s largest coal miner, yesterday reported that its coal output declined 10.1 percent year on year to 139 million tons in the first half of 2015.
China Coal Energy Co, the second-largest coal producer, said on the same day that its output slumped 22.1 percent to 46.3 million tons in the first six months.
During that period, coal sales by China Shenhua slipped 24.2 percent and those by China Coal fell 12 percent, according to the two companies’ statements.
The drop in sales was caused by weaker demand, the impact of government measures to reduce pollution and other reasons, China Shenhua said.
The coal industry will remain anemic in the short term and it will get more difficult for producers to survive, said Wang Xianzheng, head of the China National Coal Association.
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