BISICHI MINING PLC (Bisichi)
BISICHI FINALISES COAL SUPPLY CONTRACT FOR 2010-2012
Bisichi, the mining company with direct coal mining
operations in South Africa, is pleased to announce that its principal South
African coal mining subsidiary, Black Wattle Colliery (`Black Wattle’), has
finalised a three year coal supply contract with a large Swiss based commodity
broker.
The fixed price contract, the terms of which are confidential, is for 900,000
tonnes of its export steam coal product to be supplied evenly over three years
commencing January 2010.
Andrew Heller, Managing Director of Bisichi, said:
‘By taking advantage of the higher forward prices for export steam coal, we
have managed to secure a fixed price for our product at a significant premium
to the current coal price and by securing a long term buyer for our export
product, Bisichi will be in a strong position next year to take advantage of
Black Wattle’s expanded washing plant capacity.’
For further information, please call:
Andrew Heller, Bisichi Mining PLC 020 7415 5030
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