The firm, North America's No.1 producer of coking coal, said the boost in profit was mainly thanks to the reversal of an impairment charge related to an improvement in the outlook for steelmaking commodity.
President’s move to allow open pit mining in provinces until now opposed to it is part of a broader plan to double foreign investment to $25 billion in eight years.
The miner has also scrapped its 2017 dividend after full-year core earnings fell by more than a third because of a ban on unprocessed mineral exports in Tanzania.