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Yanzhou Coal's Australia unit sees 66% surge in H1 profit

Aug. 20, 2012 (China Knowledge) - Yanzhou Coal Mining Co<600188><1171>, a leading Chinese coal producer, announced that its Australian subsidiary recorded a net profit of A$415.7 million in the first half of this year, 66% more than in the same period of last year.

The company said in a statement that the Australian unit produced 11.15 million metric tons of raw coal, reflecting a growth of 34% YoY.

The unit's commercial coal output rose 29% YoY to 7.73 million metric tons, and its coal sales reached 8.11 milion metric tons, up 15% YoY.

Yanzhou Coal Mining now holds a 78% stake in the Australian subsidairy, which is one of the the largest listed mining company in Australia and owns 697 million metric tons of reserves.

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