Australia's Terracom secures coal sales till July amid strong market

Terracom

17/03/2022 23:31

March 18 (Reuters) - Australian coal miner Terracom Ltd
 TER.AX  said on Friday it has secured sales till July and
remains on track to export about 600,000 tonnes of the commodity
from its Blair Athol mine in the March quarter.
    Coal prices soared to record highs after Russia invaded
Ukraine a few weeks ago, as supply disruption concerns triggered
by the crisis added on to heavy rains and labour shortages that
were hurting output in Australia. 
    Buyers have turned to Australia to replace cargoes from
Ukraine and Russia, the world's third-largest exporter of coal.
 urn:newsml:reuters.com:*:nL2N2VD3B0  
    Terracom said it has secured a sales order for ten cargoes
of about 750,000 tonnes of coal for the four-month period from
April to July, with one of the cargoes priced at about $300 a
tonne.  urn:newsml:reuters.com:*:nASX7DZPZK
    The company also remains on track to notch coal sales of 2.3
million tonnes for fiscal 2022 from its flagship South Australia
mine.
    

 (Reporting by Savyata Mishra in Bengaluru; Editing by Devika
Syamnath)
 ((Savyata.Mishra@thomsonreuters.com;))