China Shenhua Energy reported an 18% decline in coal sales in 2015. Shenhua’s internal coal production was down 8.4% — with a further 10% drop in sales from third-party providers.
Its coal imports fell to almost nothing, reflecting an overall trend in which China’s total coal imports were down 30%.
Shenhua still says it is committed to the $1 billion Watermark coal project in the Liverpool Plains of New South Wales, but the project now appears to lack financial backers.