Asciano Renegotiates 30 Million Ton Coal & Allied Contract
June 28 2011 - 6:33PM
Dow Jones News
Australian infrastructure operator Asciano Ltd. (AIO.AU) has
renegotiated a contract with miner Coal & Allied Industries
Ltd. (CNA.AU) to carry 30 million metric tons a year from its
Hunter Valley mines to the port of Newcastle, the company said.
The new, minimum 10-year contract is based on take-or-pay terms,
under which Coal & Allied will pay Asciano for carriage of the
coal whether it is able to provide the tonnage or not.
Asciano is the dominant provider of coal haulage in the Hunter
Valley feeding Newcastle, the world's largest coal export basin by
tonnage. QR National Ltd. (QRN.AU) is dominant in the coal mines of
Queensland state to the north.
-By David Fickling, Dow Jones Newswires; +61 2 8272 4689;
david.fickling@dowjones.com
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