PERTH, April 5 (Reuters) – Australia’s thermal coal prices
rose during the past week, supported by a higher settlement for
the annual Japanese thermal coal contract.

Thermal coal on the globalCOAL Newcastle index, a benchmark
for Asia, closed at $123.75 per tonne for the week to date on
Monday, up from $123 per tonne a week earlier and $121.13 on
Friday.

PERTH/LONDON, April 1 (Reuters) – Record thermal coal term
contract prices agreed by Japanese utilities and one Australian
supplier this week have given the nearby global coal values a
boost, utilities, traders and analysts said on Friday.

Xstrata (XTA.L: Quote, Profile, Research, Stock Buzz) and Chugoku Electric (9504.T: Quote, Profile, Research, Stock Buzz) have agreed
annual contract prices for the fiscal year starting April 1 at
just under $130 a tonne FOB Newcastle, over 30 percent higher
than last year [ID:nL3E7EV499].

PERTH, April 1 (Reuters) – Xstrata and Chugoku
Electric have settled an annual coal contract for the Japanese
fiscal year starting April 1 at a record level despite the
near-term thermal coal demand destruction caused by the deadly
earthquake in Japan last month.

The contract was settled just under $130 per tonne, over 30
percent higher than last year’s contract, sources told Reuters
on Friday.

SEOUL/PERTH, March 31 (Reuters) – South Korea’s STX Corp
, aiming to boost its coal trading by investing in
overseas mines, said on Thursday that it has received long-term
supply requests from Chinese and Indian utilities which expect
rising demand after Japan’s quake.

STX also said in a statement that it had bought a 40 percent
stake in an Indonesian coal mine located in Kintap, Kalimantan
from PT Indonesia Cemerlang for $30 million, earning mine
operation and sales rights for all coal output.

PERTH, March 30 (Reuters) – Australia’s thermal coal prices,
a benchmark for Asia, dipped slightly as the short-term drop in
Japanese coal demand kept pressure on prices after a deadly
earthquake earlier this month.

Australia’s thermal coal prices on the globalCOAL weekly
index, a benchmark for Asia, closed at $122.02 per tonne for the
week to date on Tuesday, down slightly from $122.98 a week
earlier.

PERTH, March 24 (Reuters) – Australia’s government plans to
introduce a fixed price on carbon pollution from mid 2012 ahead
of a full emissions trading scheme three to five years later, as
part of its efforts to fight climate change.

The nation’s burgeoning liquefied natural gas (LNG) export
industry, which has about $200 billion projects on the drawing
board, has said it should be exempt from the tax to ensure LNG
projects are internationally competitive.

PERTH, March 23 (Reuters) – Australia’s thermal coal prices,
a benchmark for Asia, extended their decline during the past
week as near-term weakness in Japanese demand weighed on the
market.

But traders said prices may have bottomed out, as coal
cargoes turned away from some Japanese utilities found homes.

PERTH (Reuters) – Tight global iron ore supplies could be stretched even further by a massive rebuilding effort in Japan while equipment shortages will prevent miners from ramping up production, global miner Rio Tinto (RIO.AX: Quote, Profile, Research)(RIO.L: Quote, Profile, Research) said.

The damage from the massive earthquake and tsunami in Japan on March 11 had widespread implications for the global mining sector, Sam Walsh, Rio Tinto’s iron ore division chief, told an industry conference on Tuesday.

PERTH, March 22 (Reuters) – Iron ore supplies remain
scarce as markets begin to realise the huge scale of
reconstruction required in quake-hit Japan, but prices are
dropping as demand shrinks on tightening moves by top consumer
China, global miner Rio Tinto said.

The damage from the massive earthquake and tsunami in Japan
held wide implications for the mining sector, Sam Walsh, Rio
Tinto’s iron ore division chief, told an industry conference.

* Ships turn back from damaged ports, shut plants

* Japan utilities look to swap some cargoes

* Annual thermal contract negotiations delayed

By Rebekah Kebede

PERTH, March 16(Reuters) – Australia’s thermal coal prices,
a benchmark for Asia, slipped this week as demand in quake-hit
Japan tumbled for the short-term, with many coal-fired plants
shut and vessels unable to discharge coal at some ports.

Thermal coal on the globalCOAL Newcastle index for the week
to date was $125.79 per tonne on Wednesday, down from $130.33 a
week earlier.