Coal tariff cut could force mining firms to slash prices up to RMB60 per ton

Chinese authorities’ decision to cut power tariffs by RMB0.02 ($0.003) per kilowatt hour to reflect falling coal prices this month could force miners to cut their prices by as much as RMB60 (US$9.68) per ton, South China Morning Post reported, citing a statement from Jiang Zhimin, vice president of the China National Coal Association. “There will be no change to the short-term business environment for coal, and it could even continue to decline in 2015,” Jiang said told an industry meeting in comments published on the association’s website.