Xstrata coal bound for Mexico

XSTRATA has further penetrated the Mexican market with a deal worth AUS$158 million to supply 2.77 million tonnes of thermal coal to the country.

Staff Reporter

The contract between Xstrata’s major shareholder Glencore International and the Mexican Federal Electricity Commission is the second in six months for the Swiss-owned group.

Trade minister Mark Vaile said the contract represented a further boost to Australia’s growing exports to Mexico.

“Mexico’s plan to expand its coal-fired power generation capabilities, is expected to see prospects for Australian coal exports improve further in the coming years,” Vaile said.

Two-way trade between Mexico and Australia has doubled over the past five years to $1 billion.

The first shipment by Xstrata was expected to arrive in Mexico late last week, with the coal being supplied from Mount Owen in the Hunter Valley region.

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