CSR wins large coal contract

Press, 22 February 1978, Page 23

CSR wins large coal contract

NZPA Brisbane CSR, Ltd, has negotiated a Letter of Intent with the Electric Power Development Co, Ltd, of Japan, for the supply of an initial 200,000 tonnes of steaming coal a year from 1982. The contract will be on a continuing or “evergreen” basis, and provides for annual tonnages to be increased to 300,000 tonnes. Prices, and other terms of the contract have not been disclosed, but prices will be reviewed from time to time. The coal will be supplied by CSR’s 92.65 per centowned subsidiary, Buchanan Borehole Collieries Pty, Ltd,

which has just increased its annual capacity to two million tonnes of soft coking coal with the development of a second open-cut-mine near Singleton, in the Hunter Valley.

CSR said that the new contract established a long term integration of the mining and marketing of coking and steaming coal from the Buchanan Lemington mining complex. Shipments will be made through the new coal loading facilities at Newcastle. The Japanese utility requires the steaming coal for its new Matsushima, and Takeharra power stations. I