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Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012


Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal subsidiary, Black Wattle Colliery and a large Swiss based commodity broker.

The terms of the fixed price contract are confidential but will involve 900,000 tons of Bisichi’s export steam coal product supplied evenly over three years commencing January 2010.

Andrew Heller, Bisichi’s managing director, said: “By taking advantage of the higher forward prices for export steam coal, we have managed to secure a fixed price for our product at a significant premium to the current coal price and by securing a long term buyer for our export product, Bisichi will be in a strong position next year to take advantage of Black Wattle's expanded washing plant capacity.”
Source: Small Cap News



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