Yanzhou Coal Mining , China 's fourth largest coal producer , fell into the red in the first half of the year , as its methods to counteract a fall in coal prices and profits failed . The company downsized staff and raw materials prices in a bid to reduce its production cost per tonne by around 15 % YoY at its domestic mines , and by 24 - 28 % at its overseas mines . 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 .
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 downsized staff and cut materials consumption in a bid to reduce its production cost per tonne by around 15% YoY at its domestic mines, and by 24-28% at its overseas mines. 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.