Thanks for yr comments getns. I guess we cant be sure about the price of coal by 2012 but we sure know that most Steel mills in India & China use & need a lot of coal to power up as the primary source of energy. Hence the need to lock in coal at fixed prices. Although the contract probably would b negotiated every year one would assume.
I found a broker report on Riversdale Mining so that can be used as a Parallel. The tonnage & coal cost would vary dependent on production & assets and thats where I believe Felix appears as a juicy carrot to the BHP & Vale. Still no mention of Rio!!
Here's the RIV report, purely from a research perspective.
http://www.riversdalemining.com.au/component/option,com_doclib/catid,6/Itemid,26/
cheers
technical notes, page-5
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