China Trade Information

Yanzhou Coal Mining, China’s third biggest coal producer by market value, said on Friday it has signed a coal supply deal with client Huadian Power that would boost its 2008 revenue by 942.6 million yuan .

Yanzhou Coal would sell 7.3 million tonnes of coal to Huadian this year, up 52.1 percent from 2007, while the net unit price jumped 37.9 percent to 470.15 yuan per tonne, the company said in a statement to the Shanghai Stock Exchange.

Any additional coal supply to Huadian will be based on market prices, said Yanzhou Coal, which sold 5.44 million tonnes of coal to Huadian in 2007.

Yanzhou Coal and rivals including Shenhua Energy Corp and China Coal Coal Energy Co are benefiting from rising fuel prices and growing electricity demand in the world’s fastest-growing major economy.

Yanzhou Coal’s 2007 profit jumped 36 percent to 3.23 billion yuan while sales rose 16.7 percent to 15.11 billion yuan.

Tags: coal, electricity, power, Shenhua

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