China's Coal Output Drops 6.4%, Mining Investments Plunge

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Researched by Industrial Info Resources (Beijing, China)--In the first two months of this year, China's coal output was 513 million metric tonnes, a drop of 6.4% from the same period last year, while coal rail shipments were 315 million metric tonnes, a drop of 12.8% from early 2015, according to China's National Development and Reform Commission (NDRC).

China imported 28.77 million metric tonnes of coal from January through February, a drop of 12.92% from the same period a year earlier. Coal exports reached 1.52 MMT, a jump of 129.2%. As of the end of February, the total stockpile held by coal business operators reached 122 million metric tonnes, an increase of 13.8% from the beginning of last year. The stockpile in major power plants nationwide reached 64.79 million metric tonnes, which is equivalent to the consumption of 23 days.

According to the National Bureau of Statistics of China, Mining Industry revenue was $100.52 billion. The industry saw a net loss of $1.28 billion in this period.

Mining and coal washing revenue totaled $49.81 billion, a drop of 17.1%, and the sector saw a net loss of $150 million. Petroleum and natural gas production revenues fell 31.8% to $13.25 billion, and producers incurred a loss of $3.18 billion.

Consequently, China's mining investments dropped 29.5% to $6.1 billion, a drop of 29.5% from the beginning of 2015. Mining and coal washing investments fell 30.2% to $1.6 billion; petroleum and natural gas production investments fell 59.4% to $970 million; that of ore mining, smelting and pressing of ferrous metals fell to $660 million, a drop of 32.6%; ore mining, smelting and pressing of non-ferrous metal investments were $1.02 billion, down 14.1%; and investments in ore mining and processing of non-metallic minerals reached $1.65 billion, a drop of 1.2%. In the first two months of 2016, China's overall investment in fixed assets (excluding rural households) was $593.88 billion, up 10.2% from last year.

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