Two Top Power Producers Sign One-Year Coal-Supply Deals

(Beijing) — Two top Chinese power generators signed major supply contracts with two of the country's largest coal producers this week in a bid to counter recent price spikes that threaten to derail Beijing's drive to slim down the mining sector.

The state-owned producers, Shenhua Group Corp. and China National Coal Group Corp., signed the one-year deal for thermal coal, used to generate power, with two state-owned power generators in Beijing.