Overcapacity a Serious Problem in Coal Industry
From Coal Guru
New analysis by the China National Coal Association through the first 7-months of this year is pointing to overcapacity still remaining a serious problem in this country’s coal industry.
The CNCA showed that the country’s total coal reserve currently exceeds 200 million tonnes the highest amount in the past ten years. The revenue of the coal enterprises has dropped by about 50% on average compared to the same period last year.
Mr Jiang Zhimin vice chairman of CNCA said that “24 of the 90 large-sized coal enterprises in our survey are operating in a deficit. This accounts for one third of the enterprises in the survey. Plus, all the enterprises in the provinces and municipalities of Heilongjiang, Jilin, Yunnan, Chongqing, Anhui and Jiangxi are experiencing losses.”
By posting your comment, you agree to abide by our Posting rules