Reuters reported that Yanzhou Coal Mining Co Ltd China's fourth largest coal producer by market value, has settled 2009 domestic contracts for 7.84 million tonnes at CNY 502.62 per tonne.

Yanzhou Coal Mining Co Ltd said in a statement that Yanzhou has entered into electric coal sale contracts for 4.29 million tonnes in 2009 at an average benchmark price of CNY 463.86 per tonne 4% higher than a year ago. It said its coal sales volume is similar to 2008 levels.

The outlook for China's coal miners has been clouded by a deadlock in negotiations over annual coal prices with the country top five power producers which started late last year.

(Sourced from Reuters)