INTERNATIONAL COAL NEWS

Gloucester production falls

COAL miner Gloucester Coal experienced a 7% fall in coal production during the June quarter, fini...

Vivienne Ryan

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The coal miner attributed the lower production to a decision to target higher valued coking coal as well as port constraints.

Despite lower output, sales for the quarter were up 15% from the same period last year at 545,000t.

Gloucester has yet to agree to Japanese fiscal year 2008/09 coking coal prices with its Japanese steel mill customers, although it was confident price increases were achievable.

“Attractive JFY 2008/09 provisional pricing is in place and will remain in force until final pricing is completed,” Gloucester said.

Final price negotiations are expected to be completed in the near future.

Earlier this month Gloucester increased its JORC compliant coal reserves by 30% to 28.5 million tonnes and increased its resources to 205Mt.

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