Yanzhou Coal sees net profit fall in Q3

Yanzhou Coal Mining Co, the country's fourth-largest coal producer, expects its net profit in the third quarter to fall more than 55 percent from a year earlier, weighed down by likely lower prices and production volume.

The Shandong-based coal miner plans to produce 35.05 million tons of coal this year, or 6.7 percent less than last year's actual output, its chief financial officer said during a conference call.

Yanzhou Coal reported last week that its first-half net income fell 48 percent, dragged down by slumping coal sales as the economic slowdown cut demand for the fuel.