Wesfarmers announced that price negotiations for the April 2012 to June 2012 quarter for metallurgical coal exports from Wesfarmers Resources' Curragh mine in Queensland's Bowen Basin have now been concluded with the majority of customers.

For the April 2012 to June 2012 quarter, the weighted average FOB for new contract prices of Curragh metallurgical coal (hard coking, semi -hard coking and PCI) will decrease by approximately 11% as compared to the January 2012 to March 2012 quarter prices. All of Curragh's contracted tonnage for this quarter is under the quarterly pricing mechanism.

Mr Stewart Butel MD of Wesfarmers Resources said the company was satisfied with the result of its negotiations for Curragh's hard coking coal, with price settlements for the April 2012 to June 2012 quarter at approximately USD 201 per tonne FOB Queensland

Approximately 92% of the April 2012 to June 2012 quarter sales tonnage is forecast to be at the new contract prices, with the balance at carryover prices from the previous quarter.

Source – Wesfarmers Resources
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