According to its website WICET is owned by a consortium of 8 resource companies. One of which Bandanna Energy was recently placed in Administration and another Glencore has reported that it plans to cut back coal production.
WICET reports that late April early May 2015 they loaded the first shipment of coal (73 000 tonnes) from WI. The media reports the CEO of WICET as saying the shipment went "smoothly".
With Bandanna Energy and possibly Glencore (may be) out of the picture from a shipping angle, the remaining 6 producers will have to step up production to meet the original forecast of some 27 Million tonnes of coal per annum.
MND Price at posting:
$9.96 Sentiment: None Disclosure: Not Held
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