News: Asciano, Whitehaven sign agreement

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Asciano Limited (ASX:AIO) division Pacific National Coal has inked a rail haulage deal with Whitehaven Coal Limited (ASX:WHC) for the next 12 years.

 

Under the new agreement, Pacific National Coal says it will commit to a more efficient train fleet configuration.

 

Pacific National Coal Director David Irwin says the agreement is a win-win for both parties as it will deliver Whitehaven improved efficiency, higher levels of service and reduced haulage costs.

 

Asciano says both parties have confidence in the long term outlook for Australian coal mining.

 

Asciano delivered a net profit of $342.3 million in fiscal 2013.