FORDING Canadian Coal Trust has locked in 2005 coal contracts at an average of US$122 per tonne for output from its Elk Valley Coal operations.
Prices were negotiated on a FOB west coast port equivalent basis.
Fording will be able to fully capitalize on the price rise through the expansion of its Elk Valley Coal metallurgical coal capacity by 12% - from 25 million tonnes to 28Mt by the 2005 third quarter.
Fording said it expected coal sales for the 2005 calendar year to exceed 27Mt, a two million tonne increase over our 2004 sales volumes.
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