Not bad when you consider RIV is heading towards 6m tonnes pa of...

Not bad when you consider RIV is heading towards 6m tonnes pa of the stuff + 6m of thermal PA.

Japan’s Tex Report stated on Tuesday that hard coking coal contract negotiations between Japanese steelmakers and Xstrata are “bogged down,” with the Japanese prepared for a “long-running battle.” The report suggested that Xstrata was offering hard coking coal for $350–370/t fob, much higher than earlier settlements around $300/t, and was offering semi-soft coking coal for $260/t fob Newcastle.




This may suggest that Tatta might speed things up on the development front..

Meanwhile, in an unrelated development coinciding with the Bumi discovery, Tata Steel said certain findings encouraged it to press ahead with the joint venture with Riversdale Mining Company to kick-start a coal mining project in Mozambique.

“The Riversdale hard coking coal is said to be ideal for the steel industry. The quality of the hard coking coal, combined with a 1.9 billion tonne inferred JORC (an industry standard for evaluating ore reserves) resource and low strip ratios will make the Benga Coal project a world class project and give Riversdale the opportunity to be a globally competitive coal producer,” Tata Steel informed BSE on Monday.