Shanxi mines cash in on coal price

Analyst says major producers expect to see steady stream of earnings

Major listed coal companies in Shanxi province, the country's largest coal production base, expected to see profit growth in 2016 - thanks to rising coal prices resulting from the nationwide capacity reduction campaign - according to previews of their annual reports.

Shanxi Lu'an Environmental Energy Development Co Ltd said in a public filing that it expected to make a net profit between 680 million yuan ($99 million) and 950 million yuan last year, up from 103 million yuan in 2015.