According to Mr Wu Yuxiang CFO of Yanzhou Coal Mining Co, domestic coal price will keep high-running in H2 for the firm demand from China and Indian. Besides, the reconstruction after Japan earthquake will also back coal coupled with the weak dollar.
In the mainland, the company expects the steady growth of economy could be maintained. The all stream construction of low-income housing would drive steel, cement, glass and other industries to increase demand for coal.
Currently, the group is seeking acquisition opportunities in Australia and Inner Mongolia as well as new overseas coal mines. The sales target of Australian coal this year is set at 12 million tonnes but only 4.7 million tonnes completed in H1 since the aftermath of Japan earthquake reduced Australia coal to Japan. The rebuilding will improve coal performance in H2. A goal of 50 million tonnes of the company Australia coal mines is expected in 2015