Yankuang Group Targets 80 million mt Coal Output This Year

Last year, the group coal output rose to 60 million mt up from the 40 million mt in the previous year as the company spent A$3.3 billion to acquire Felix Resources. in the Oceania country in 2009. Last year, the group operations in Australia contributed nearly 50% of the group profit of CNY 8.7 billion. Felix Resources realized a profit of about CNY 3.2 billion in 2010. Yankuang Group plans to increase its annual coal output to 150 million mt by 2015 and aims to reap CNY 120 billion in sales revenue and CNY 32 billion in pre-tax profit in 2015.