Japan Coal Deals Exceed $l600m

Press, Volume CIX, Issue 31984, 10 May 1969, Page 22

Japan Coal Deals Exceed $l600m

(New Zealand Preu Association) SYDNEY, May 9. Three big coal deals announced yesterday, the latest developments in the Australian mining boom, include increases to the slsoom worth of Japanese contracts signed since February.

Bellambi Coal Company, Ltd, a partly-owned subsidiary of the Consolidated Goldfields group, yesterday became the fourth New South Wales company in the last two month to announce a major new coal contract with Japan. Under the new contract the company has boosted its tonnages to be sold to Japan over the next 10 years by 57 per cent to a total of 13.8 million tons worth slsom at present prices. Bellambi will spend $9.6m —mostly in the next two years—on new facilities and equipment to service the new contract. JOINT VENTURE A consortium headed by the Hanwright iron Ore group is negotiating to operate the Mawsori coalfield in New South Wales with its owners, Silver Valley Minerals, NX., on a joint venture basis. The plans inelude the Mawsori' ’coalfields, the

development of an ocean terminal at the field, south of Newcastle, for shipments to Taiwan. Slater Walker Securities (Australia), Ltd, has now obtained contracts for the export of a minimum tonnage of coal worth s2m in 1969. The director of the company’s coal division (Mr T. J. Brooks) said the company also has an option to export a further slm worth of coal this year.