HomeProduct Complimentary download China Jan-Oct coal industry profit slumps 45 pct on yr

China Jan-Oct coal industry profit slumps 45 pct on yr

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Publish time: 27th November, 2014      Source: www.cnchemicals.com
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Profit of China’s coal mining and washing industry plunged 45.2% from the same period last year to 94.29 billion yuan ($15.36 billion) over January-October this year, showed data from the National Bureau of Statistics (NBS) on November 27.In the first ten months of the year, major coal mining and washing enterprises – annual revenue above 20 million yuan – realized revenue of 2479.38 billion yuan from core businesses, down 6.0% from a year ago, with profit at 84.42 billion yuan, dropping 49.2% year on year.During the same period, profit of the country’s entire mining industry posted a decrease of 20.1% year on year to 525.74 billion yuan, data showed.Profit in ferrous and non-ferrous metal industries also fell 16.7% and 12.0% year on year to 63.85 billion and 44.52 billion yuan, respectively.However, the power and heat generation industry saw its profit climb 19.7% from the year before to 360.97 billion yuan, attributed largely to low coal prices.