US coal miner, Patriot Coal Corp, is to sell 1.5 million tons of metallurgical coal to Asia, the company announced on Monday.
The deal was done through Pennsylvania coal trader, Xcoal.
Under the terms of the deal "steel mills in the Pacific Rim" will take coal from Patriot's Panther and Winchester mines to be delivered between April 2010 and the early part of 2011.
"This transaction opens up new markets for our products," said Patriot Chief Executive Richard Whiting, predicting additional opportunities for Patriot to sell met coal to Asia.
"With this sale, we now expect our 2010 met coal shipments will be more than 7 million tons. This represents more than a 30 percent increase in total met shipments over 2009 levels," he said.
No comments:
Post a Comment