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Trade Issue
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| Shenhua gets coal export quota of 6.55 million tonnes for H2 - 18 Nov, 2008
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China Shenhua Energy Co parent, Shenhua Group Corp has been granted a coal export quota of 6.55 million tonnes for the second half of this year.
China Shenhua, the country's largest listed integrated coal producer by output, said in a statement that the Chinese government granted coal export quotas totaling 15.9 million tons for the second half of this year to various Chinese coal mining and trading firms. The statement didn't provide details on the allocation of the other 9.35 million tonnes of quotas. It also didn't give a breakdown of the quotas for thermal coal and coking coal.
A person close to the matter said earlier this month that China National Coal Group Corp., the parent of China Coal Energy Co would be granted a quota of 6.3 million tonnes. The person said Shanxi Coal Import & Export Group Co and China Minmetals Corp. would be awarded quotas of 2.1 million tonnes and 1.2 million tonnes respectively.
The issue of the second-half quotas was delayed, which some foreign coal traders attributed to China's policy of reducing exports to meet its own rising domestic demand.
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Currency Rates
05 Jan, 2009
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