January 16, 2018 / 9:47 PM / 9 months ago

Cloud Peak to export U.S. coal to new power plants in Japan

WASHINGTON, Jan 16 (Reuters) - U.S. miner Cloud Peak Energy said on Tuesday it will export coal from a Montana mine for 30 to 40 months to two new power plants in Japan with shipments that could start late next year.

The coal will be carried by rail to Vancouver and then sent by ship for delivery to two 540-megawatt coal gasification plants in Fukushima Prefecture, Cloud Peak said. JERA Trading Pte Ltd, a trading company based in Singapore, will buy the coal from Cloud Peak. Sales of the coal are expected to reach 1 million metric tonnes in the final contract year, Cloud Peak said. (Reporting by Timothy Gardner; Editing by Leslie Adler)

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