AAP reported that ports and rails operator Asciano Group has signed a 10 year, AUD 320 million deal with a coal mining joint venture to move up to three million tonnes of coal per year in Queensland. The contract was signed with Middlemount Coal Pty Ltd a joint venture between local miner Macarthur Coal and Singapore's Noble Group.

Asciano will start hauling coal from the new Middlemount mine complex from January 1st 2012. Mr Mark Rowsthorn CEO of Asciano said that "This is a significant step in Asciano's growth strategy.”

He added that "It demonstrates our ability to meet our customers needs in Queensland and places us in prime position to take advantage of further growth tonnages from coal producers who have committed to port capacity at Abbot Point."

Mr Rowsthorn said Asciano had secured haulage contracts for more than 45 million tonnes of coal in Queensland. In mid June, Asciano secured a contract with Anglo American Metallurgical Coal Pty Ltd to move 16.5 million tonnes of coal per annum in Queensland from January 1st 2012.

Asciano said the 10 year deal would generate AUD 775 million in revenue, making Anglo-American Asciano's largest contracted customer in Queensland. Asciano is keen to lift its presence in Queensland, where the coal haulage market is expected to double within the next five years. Asciano said on Thursday that in its first year of coal haulage in Queensland, it had hauled more than 14 million tonnes of coal, exceeding its first-year target.

(Sourced from AAP)