XSTRATA and Rio Tinto have both landed year-long thermal coal contracts with Tokyo Electric Power for $US103 per tonne according to initial reports.
The contracts start this month and collectively cater to a total volume of 1.5Mt, according to two traders who spoke to Dow Jones Newswires.
The prices are more than $4 above the last Newcastle spot price provided by globalCOAL.
Neither Rio nor Xstrata have confirmed the deals, but coal companies do not always comment on their contracts.
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