Chi­naCoal sup­ply deals

Global Times US Edition - - BIZOVE -

The China Na­tional Coal Group Corp (Chi­naCoal) has signed medium- to long-term coal sup­ply deals with six cen­trally ad­min­is­tered State-owned en­ter­prises (SOEs), Xinhua News Agency re­ported on Sun­day.

From 2019 to 2023, Chi­naCoal will pro­vide more than 500 mil­lion tons of the fuel to such SOEs as China Hua­neng Group Co, China Hua­dian Corp and State Power In­vest­ment Corp.

In 2019, coal sup­plies by Chi­naCoal will reach 97 mil­lion tons, ris­ing grad­u­ally in sub­se­quent years, ac­cord­ing to the con­tract.

Be­tween 2019 and 2021, the long-term con­tract price will be 535 yuan ($79) per ton.

Be­tween 2021 and 2023, prices will be set by mar­ket devel­op­ment. No price changes will oc­cur if no pol­icy ad­just­ments are put in place.

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