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Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH


SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the September quarter.

The diversified conglomerate revealed in April that it had moved to quarterly pricing with its customers for about 75 per cent of contracted metallurgical coal tonnage from Curragh.

Wesfarmers said on Monday that three quarters of the mine's contracted output continued to be sold under quarterly arrangements.

The mine is about 200 kilometre west of Rockhampton.

Wesfarmers Resources managing director Stewart Butel said the company was satisfied with price settlements for the September quarter for Curragh's hard coking coal, which amounted to about $US225 per tonne freight-on-board ex-Queensland.

Mr Butel did not specifically comment on price settlements for the company's semi-hard coking or PCI (pulverised coal injection) coal.

The company said in April that the weighted average price for metallurgical coal from Curragh for the June quarter would increase by about 70 per cent.
Source: SMH



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