Mikjas - when their is a negative yield curve and the developed countries are slowing down it is not a bad hedge to be in USD coal contracts in one of the fastest growing regions in the world being East Africa. China and India are looking for alternative sources of coal supply to South Africa as it is increasing in political/sovereign risk and the cost of mine production is increasing. Tanzania is part of the one belt trade policy of China. Very close links politically.
IEC Intra Energy, page-65
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