China’s Coal Giant, Shenhua, Expects Profit of $15 Billion. By Baizhen Chua, Bloomberg News, July 7, 2010. “Shenhua Group, China’s biggest coal producer, expects profit to exceed 100-billion yuan ($15bn) by 2013 as the company develops projects in Australia, Indonesia, Mongolia and Russia. The company has a revenue target of 300-billion yuan for 2013… Peabody Energy, the biggest US producer, reported net income of $448m last year. Shenhua is developing overseas projects to meet demand for coal, used to generate 80% of China’s power, after the nation became a net importer of the fuel for the first time last year.”
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