September 27, 2007 / 8:10 AM / 12 years ago

Xstrata fixes '08 coal contracts with Korean gencos

SYDNEY/SEOUL, Sept 27 (Reuters) - Xstrata Plc XTA.L, the world’s largest thermal coal producer, has settled 2008 thermal coal supply contracts with two Korean utilities at as high as $68.50 a tonne, two sources said on Thursday.

State-owned utilities Korea South East Power Co (KOSEP) and Korea East West Power Co (KEWPO) have agreed to buy coal from Xstrata’s New Lands coal mine at $68.50 a tonne and $65.50 a tonne for coal from the Rolleston mine, they said.

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