Wet coal is $40/T but because of the conversion rate 1.5 T ($60) wet /1T ($100)briquetted it does appear that the margins are skinny. Of course the true value of this technology is the shipping costs. The cost of transporting 1 million tons of the low grade stuff (return of $40 mil) is the same as transporting 1 million tons of the good stuff ($100 mill). The further you are from market the better it looks.
I would have to question the motivation of Bayan, waiting until until now when WEC is at it's most vulnerable stage in the project to question the viability of it all. I suspect that they are trying to squeeze a better margin and wouldn't be surprised if negotiations deliver a revised agreement. Watch the bounce if that happens.
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