Coalcorp seeks arbitration in portraccess contract dispute

摘要

Coaleorp Mining wants to be released from a contract it signed in February 2007 with Glencore,which is being used to restrict Coalcorp's port access.It is seeking a declaration from the London Court of International Arbitration to resolve the matter.The contract calls for Glencore to purchase 12.5 million tonnes of coal from Coalcorp's La Francia mine over a five year period.Coalcorp said that Glencore and Glencore's affiliate,C.I.Prodeco,recently informed the company that access to Santa Marta port using the soon to be completed Fenoco rail line will not be allowed during the first half of 2009 and possibility for the entire calendar year..