China Shenhua Energy sates China’s demand for coal

The world’s largest coal mining company turns in a profit despite the slowdown in China’s economy.

State-owned China Shenhua Energy based in Beijing said its first quarter profit rose 6% to US$1.86 billion compared to US$1.76 billion in the first quarter of 2011.

Shenhua said its commercial coal production rose 12% in the first quarter to 79 million tonnes, or 27% of its annual target. Sales volume rose 16% to 108 million tonnes.

Its total power output dispatch jumped 20% to 43.9 billion kilowatt hours, accounting for 22 percent of its annual target.

The company is a subsidiary of Shenhua Group. It is engaged in the production and sale of coal and the generation and sale of electric power in China.

Shenhua operates coal mines and an integrated railway network and a seaport that transport its coal. It also operates a number of coal-fired power plants.