UPDATE 1-China Shenhua to capitalise on strong spot coal prices

* Dismisses talk about interest in Whitehaven Coal

* Looking to cooperate with Russian firms on coal, railways

* Shares up 1.6 pct, beating Hang Seng Index (Adds details, quotes)

By Sui-Lee Wee and Alison Lui

HONG KONG, Aug 30 (Reuters) - China Shenhua Energy Co Ltd (1088.HK: Quote), the world's most valuable coal producer, said it expects to raise the proportion of its sales from spot coal in the second half to take advantage of higher prices.

With current spot prices at a 40 percent premium to contract coal prices, analysts say Shenhua can capitalise on better pricing in the second half of the year.

Zhang Kehui, Shenhua's chief financial officer, said on Monday that the company aims to get about 40.6 percent of its total sales from the spot market in the second half of the year, versus 27.2 percent from the same period a year ago.

Shenhua's spot sales also accounted for 40.6 percent of its total sales in the first half.

"In the second half of the year, we'll continue this strategy and our spot coal sales will continue to grow," Shenhua's President Ling Wen told reporters in Hong Kong.