Top China coal producer Shenhua says H1 profit up 16 pct
HONG KONG Aug 17 (Reuters) - China's largest coal producer China Shenhua Energy Co Ltd said on Wednesday its first-half net profit rose 16.1 percent year on year.
In a filing with the Hong Kong stock exchange, the company said net profit rose to 21.9 billion yuan ($3.43 billion) from 18.8 billion yuan a year earlier, while revenue jumped 40.5 percent.
The company, which is also heavily engaged in power generation, did not give reasons for the earnings advance, but said the results were just preliminary data. here
A venture led by Shenhua will hold a 40 percent stake in the western Tsankhi block of Mongolia's Tavan Tolgoi coal project, giving it the biggest share of one of the world's biggest coking coal deposits, according to a draft proposal submitted to the Mongolian parliament last month.
A Russian-led consortium would control 36 percent of the project, while U.S. miner Peabody Energy Corp would own the remaining 24 percent. ($1 = 6.383 Chinese Yuan) (Reporting by Charlie Zhu; Editing by Will Waterman)
In a filing with the Hong Kong stock exchange, the company said net profit rose to 21.9 billion yuan ($3.43 billion) from 18.8 billion yuan a year earlier, while revenue jumped 40.5 percent.
The company, which is also heavily engaged in power generation, did not give reasons for the earnings advance, but said the results were just preliminary data. here
A venture led by Shenhua will hold a 40 percent stake in the western Tsankhi block of Mongolia's Tavan Tolgoi coal project, giving it the biggest share of one of the world's biggest coking coal deposits, according to a draft proposal submitted to the Mongolian parliament last month.
A Russian-led consortium would control 36 percent of the project, while U.S. miner Peabody Energy Corp would own the remaining 24 percent. ($1 = 6.383 Chinese Yuan) (Reporting by Charlie Zhu; Editing by Will Waterman)
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