Subscribe to RSS feedRio and Xstrata swallow deep cuts in pricing
by
Obsidian
—
last modified
Mar 19, 2009 12:00 AM
Renegotiations of coal contracts could cause export earnings to slump $35bn.
Two of Australia's largest thermal coal producers, Xstrata and Rio Tinto, dropped their prices to $US70 a tonne last week after dramatic renegotiations with Japanese buyers.
The new price is 44% down on the record high of last year's $US125...
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