Western Canadian Coal Corp. announced on Wed (7 May) that it has negotiated a majority of its 2008 coal year contracts for hard coking coal at an average above US$300 per tonne.
The Vancouver-based company also said it has negotiated a majority of its 2008 coal year contracts for its low-volatile PCI coal at approximately US$248 per tonne.
Western Canadian produces 3.7 million tonnes of metallurgical coal from three mines located in the northeast of British Columbia.
The company also has interests in various coal properties in northern and southern British Columbia and a 50 per cent stake in the Belcourt Saxon Limited Partnership.
In a separate report the company has announced that it has closed the deal to buy Falls Mountain Coal from Cambrian Mining at a reported cost of £55million.
Sources: The Canadian Press Hemscott
Minerals and Metals at http://www.minerals-and-metals.com/
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