Yanzhou expects coal oversupply to persist worldwide, but rising demand from some emerging nations will help stabilise prices in the second half. Photo: Reuters
Yanzhou Coal Mining, China's fourth largest coal miner, plunged into the red in the first half of the year, as its methods to counteract a fall in coal prices and demand failed. The company said it had lost more than $US1 billion ($A1.24 billion) on projects since last year when production fell by about 10 per cent from peak levels. Although the company is expecting coal oversupply to remain worldwide, an increasing demand from India will help stabilise prices towards the end of the year.