Canada’s Western Coal Corporation has has negotiated a sales price of US$200 per tonne for its hard coking coal and US$170 per tonne for its low-volatile PCI coal for 2.5 million tonnes, or 75% of its sales in Asia for the 2011 fiscal year. These prices are for the period from April to June 2010 and represent an increase of 59% compared to the fiscal 2010 hard coking coal contracts and an 89% increase compared to the fiscal 2010 low-volatile PCI coal contracts.
Western Coal also expects to sell 6 million tonnes of coal in the next fiscal year, an increase of 75% over the current year. Met coal sales are expected to hit 4.8 million tonnes - 80% of sales.
Sales from the Canadian, US and UK operations are expected to be higher than 2010 by approximately 60%, 100% and 180%, respectively.
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