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Australia, China sign 60 billion USD coal export contract

Australia’s Resourcehouse group said on Feb. 6 that it has signed a 60 billion USD coal export contract with the China Power International Development Ltd (CPI).
Australia’s Resourcehouse group saidon Feb. 6 that it has signed a 60 billion USD coal export contract withthe China Power International Development Ltd (CPI).

Resourcehouse’s Executive Director Phil McNamara said his company willprovide 30 million tonnes of coal worth 3 billion USD per year for 20years for its partner under Australia ’s largest coal export contractso far.

China is the world's largest producer and user of coal, and last yearbecame a net importer of the fuel due to increased domestic demand.

Australia already is the largest supplier of coal to China . Of the125.8 million tonnes of coal imported by China in 2009, 43.9 millioncame from Australia./.
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