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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL


Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the price terms said, in a sign suppliers have regained the upper hand in price talks.

Xstrata, along with Peabody, had been seeking a headline price of around $US85 a tonne, effective January 2010, while buyers had aimed for a price closer to about $US75.

The outcome is in contrast to early 2009, when another Japanese utility, Chubu Electric Power Co, secured a price cut of up to 44 per cent to $US70-$US72 a tonne for the fiscal year ending March 2010, free on board. Many Japanese utilities negotiate prices based on fiscal rather than calendar years. To read more Reuters / Business spectator



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Recent News

Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...


Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...


Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...


Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...


Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...


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