North China Province Reports Big Rise in Coal Exports

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Last updated at: (Beijing Time) Saturday, June 21, 2003

North China Province Reports Big Rise in Coal Exports

Shanxi Province, a major coal production base in China, exported 19.27 million tons of coal in the first five months of the year, up 19.26 percent from the same period last year.

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Shanxi Province, a major coal production base in China, exported 19.27 million tons of coal in the first five months of the year, up 19.26 percent from the same period last year.

Sources with the provincial coal industry administration said the province produced 160.54 million tons of coal from January to May, a rise of 20.8 percent, or 27.65 million tons, year on year.

Major state-owned coal mines turned out 75.23 million tons, up 18.7 percent.

The total income from sales of coal increased 15.81 percent to reached 24.9 billion yuan (three billion US dollars) in the five months.

Major state-owned coal mines accounted for 8.68 billion yuan (1.05 billion US dollars) of the total sales income, up 22.71 percent.They also made 178.88 million yuan (21.55 million US dollars) in pre-tax profits, a rise of 27.82 million yuan (3.35 million US dollars).

Arrears owed to Shanxi for coal procurement totaled 5.03 billion yuan (606 million US dollars), down by 282 million yuan (33.98 million US dollars). In the five months, 115 million tons ofcoals were shipped to the rest of the country.

Shanxi is known as the "sea of coal" in China. Coal, maize, coke, magnesium and related products, are major sources of revenuefor the province.

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