Excel Coal secures additional fixed price thermal coal sales contract

摘要

Excel Coal Limited has secured a further thermal coal contract to supply 2.08 million tonnes of export thermal coal over a four year period at a fixed price from Excel's Hunter Valley operations in New South Wales. This coal will be sold FOB Newcastle under Global Coal SCOTA terms (15 percent ash ad and 6,000kcal/kg NCV) and is destined for the European market. The contract runs from January 2007 through December 2010 with deliveries scheduled consistently over the four years. This contract has fixed coal prices for the four year period which will deliver an average fixed price of approximately 51.50 US dollars per tonne FOB Newcastle for the 2.08 million tonnes. Matching forward currency contracts have been entered into from July 2007 through December 2010 at an average rate of approximately 0.7223 USS per AS, resulting in a fixed coal price of approximately 71.45 Australia dollars per tonne for the 2.08 million tonne contract.