China's Yancoal to produce 70 mln tonnes of raw coal in 2018

Updated 2018-01-24 09:54:01 Xinhua

China's Yancoal Australia Ltd (Yancoal), the largest pure-coal producer in Australia, is expected to produce at least 70 million tonnes of raw coal in 2018, an official of Yankuang Group said Tuesday.

The annual raw coal production of Yancoal, which is a subsidiary corporation of Yankuang Group Co., Ltd, one of China's largest energy enterprises, has seen great increase after the acquisition of Coal & Allied in September, 2017.

The output of Yancoal was nearly 60 million tonnes last year, with its profits reaching 300 million Australian dollars (240 million U.S. dollars).

"Yancoal's output of raw coal this year will be 70 million tonnes, and the target profit is 400 million Australian dollars," said Li Wei, general manager of Yankuang Group.

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