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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China coal miner talks with power producers fail AP - 2 hours 56 minutes ago SHANGHAI, China - Chinese coal miners and power producers failed to reach full agreement on prices in weeklong talks over supply contracts for next year, reports said Monday. The country's top five power producers sought a 50 yuan ($7.30) per ton price cut, while the miners were demanding increases, the financial newspaper Caijing and other reports said. The talks, held in the southeastern city of Fuzhou, ended with a quarter of the 846 million ton annual quota for coal to be transported by railway _ mainly due to go to electric utilities _ still untaken, the reports said. Negotiations on coal for other industries were successful, Caijing and the China Securities Journal reported. China relies on coal for about three-quarters of its electricity generation, and it was unclear if the failure to reach an agreement would have any significant impact on future power supplies. In past years, China has faced chronic shortages partly due to shortfalls in coal supplies in some areas. But the economic slowdown has helped eased demand. Share prices of power producers surged Monday in Hong Kong trading. Huaneng Power International jumped 6.1 percent to 5.40 Hong Kong dollars, Datang gained 9 percent to HK$4.10 and Huadian Power gained 1.7 percent to HK$1.77. China Shenhua Energy, the country's biggest coal miner and also a major power generator, gained 1.7 percent to HK$15.48. Earlier this year, power generators let coal stocks run low rather than replenishing them at high market prices. The government imposed price controls on coal supplies and ordered suppliers to comply, while raising electricity rates to help rebalance costs and prices. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Trials open for 9 over China tainted milk scandalAP - 57 minutes ago China's SAIC seeking S.Korea support for SsangyongReuters - 2 hours 5 minutes ago China coal miner talks with power producers failAP - 2 hours 56 minutes ago Tourism trouble on Thailand's tropical island of PhuketAFP - Tuesday, December 30 Related Articles: Business Thailand's True Corp revises rights issue ratioReuters - 24 minutes ago Russia stock regulator loosens trade halt rulesReuters - 29 minutes ago Rolta India acquires US-based Piocon TechnologiesReuters - 29 minutes ago Rio wants to meet Guinea govt on iron ore projectReuters - 33 minutes ago Jai Balaji to start steel plant work by Jan-end -CMDReuters - 36 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Woolworths to close quarter of stores Chances of gas cut '50-50', Russia warns Ukraine At least 210 dead as Israel hammers Hamas-run Gaza Obama economic plan to cost between 675 and 775 bln: aides View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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