(EnergyAsia, August 30 2013, Friday) — China’s slowing economy is hurting its coal miners as they face up to the prospects of mounting losess and reduced production for 2013.

For the first half of the year, the China Coal Transport and Distribution Association (CCTD) said the country’s mines fell 3.7% to 1.79 billion tonnes with 26 of its members reporting losses totalling 4.66 billlion yuan, and 80 of them owed more than 320 billion yuan as bad debts piled up. (US$1=6.12 yuan).

Banks have begun to tighten up lending amid a government crackdown on speculation and corruption and a slowdown in China’s economic growth to 7.6% in the first half compared with 8% to 9% in previous years.