Jizhong Energy Group Co., Ltd based in northern China's Hebei province produced 56.52 million tonnes of raw coal and 15.29 million tonnes of washed coal in 2023, the group said on January 8, 2024.

Total coal output of three subsidiaries of the group including Jizhong Energy Resources Co., Ltd., Jizhong Energy Fengfeng Group Co., Ltd and Jizhong Energy Xingtai Mining Industry Group Co., Ltd. stood at 46.78 million tonnes, with profits of 7.5 billion yuan ($1.05 billion), which effectively hedged against the adverse effects from market downturns.

Several coal mines of the group are anticipated to be put into operation or expand capacity in 2024. The west shaft of Xingtai coal mine is expected to transfer from trial operation to full-scale production, with a capacity of 600,000 tonnes per annum. Tashendian and Chaerqi coal mines in Xinjiang are expected to be put into operation, while Jiadong and Kaichuan coal mines in Inner Mongolia are likely to obtain approval for capacity expansion.

At the same time, the group adopted the cost-reduction mechanism, making the cost of commercial coal reduce by 84 yuan/t, and the total cost decline to 2.1 billion yuan.

The group safely excavated 4 million tonnes of coal by adopting advanced technologies, creating profits of 2 billion yuan. Comprehensive technical services for water prevention were applied to 32 coal mines in 6 provinces with annual revenue exceeding 100 million yuan.

(Writing by yan.sun  Editing by Emma Yang)
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