GLOUCESTER COAL LTDABN 66 008 881 712Level 9 Citadel Towers...

GLOUCESTER COAL LTD
ABN 66 008 881 712
Level 9 Citadel Towers (Tower B)
799 Pacific Highway
Chatswood NSW 2067
Sydney – Australia
Telephone: 61-2 9413 2028
Facsimile: 61-2 9413 4802
Email: [email protected]
GLOUCESTER COAL
PRESS RELEASE
Gloucester Coal Ltd
2005 Japanese Steel Mill Price Settlement
GCL has concluded negotiations with the Japanese steel mills in regard to contract
tonnage and price for the 2005/2006 Japanese financial year. GCL is pleased to report
that the average price for Gloucester coking coal from April will be over US$100 per
tonne, an increase of more than US$55 from the current Japanese financial year’s contract
price. This is a record sale price for GCL and highlights the significant strength of the
coking coal market and the continued support by the Japanese steel mills for high
fluidity Gloucester coking coal.
GCL Coking Coal US$ Sale Price
0
20
40
60
80
100
120
96 97 98 99 00 01 02 03 04 05
JFY
US$/tonne
The price increase is the result of strong international demand for steel products and a
continued supply shortage of high quality coking coal. The Directors of Gloucester Coal
believe that this strong market is likely to continue for the foreseeable future.
Gavin May
Chief Executive Officer
21 February 2005