China's Jizhong Energy mines 31 million mt of coal, up 10% on year

Huaihua, Hunan (Platts)--5Apr2012/632 am EDT/1032 GMT


Jizhong Energy Group, the largest coal miner in northern China's Hebei province, mined 31 million mt of coal in the first quarter of 2012, up 9.9% year on year, according to a statement Thursday on the website of the Xingtai municipal government.

The statement did not reveal output for Q4 2011.

Of the Q1 total, metallurgical coal accounted for 7.6 million mt, with the rest comprising thermal coal.

Jizhong Energy Group posted a net profit of Yuan 1.27 billion ($201.1 million) in the first quarter of 2012, up 12.4% year on year, according to the government statement.

Article continues below...


Request a free trial of: International Coal Report International Coal Report
International Coal Report

International Coal Report and its daily companion, Coal Trader International, deliver expert and respected price assessments for coal trading in the Atlantic and Pacific markets including price assessments for European CIF ARA, FOB Newcastle, Richards Bay and Indonesia.

Request a trial to International Coal Report Request More Information

The company mined slightly over 100 million mt of coal in 2011, up from 70.2 million mt in 2010, according to information on the company's website. Of the 2011 annual tonnage, metallurgical coal accounted for about 26 million mt, making the company China's second-largest metallurgical coal miner after Shanxi Coking Coal Group.

--Reggie Le, newsdesk@platts.com