12.03.2009 - Australia: Coal's $4bln up in smoke
From Theage.com.au: Thermal coal price settlements will punch a $4 billion hole in Australia's export revenue in 2009-10. But it could have been worse, with the $US70 ($A109) a tonne benchmark settlement in the key Japanese market as much as $US10 a tonne better than recent spot market prices. The 44 per cent price reduction in contract prices from last year's $US125 to $US70 a tonne was in line with market expectations, given the slowdown and the reduction in energy consumption..... Full Article: Source
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