MARKETS

Yanzhou more for less

MORE money for less product was the essence of Yanzhou Coal Mining Companys announcement yesterda...

Angie Tomlinson
Yanzhou more for less

The Eastern coal giant’s average contractual price of coal exports to Japan rose to US$51.93 per tonne. Exports to customers including Tokyo Electric Power and Nippon Steel account for about 45% of Yanzhou’s sales.

For 2004 Yanzhou had settled its coal export volume to Japan at 10.4 million tonnes, representing about 87% of its planned coal exports of 12 million tonnes this year, Reuters News reported.

Yanzhou reduced export tonnage was in line with Chinese government policy, which is trying to keep coal in China for electricity generation. The company cut its export target by 12% this year.

Thermal coal exports fell 5.5% to 5.15Mt whilst semi-soft coking coal export volumes rose 0.4% to 5.25Mt.

Yanzhou contract export thermal coal prices had risen 65% to $48.30 per tonne and coking coal had jumped 75.4% to $55.50 per tonne.

In 2002, Yanzhou produced 38.435 million tons of raw coal. As of December 31, 2002, the in-place proven and probable reserves of six coal mines totaled almost two billion tons.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production