Xstrata Buys Coal Trains For New South Wales Operations
25 September 2009 - 11:04AM
Dow Jones News
Xstrata PLC (XTA.LN) said Friday it is purchasing three coal
trains to transport coal from its mines in the Hunter Valley region
of New South Wales state to the Port of Newcastle for export.
The miner already has a contract with rail haulage group Pacific
National, owned by Asciano Group (AIO.AU), for the transport of 30
million metric tons of coal a year.
A spokesman for Xstrata said the new trains would have capacity
to transport more than 10 million tons of coal to port a year and
would begin operating in 2011.
"It is an opportunity for us to provide greater security of
supply for our customers," he said.
Congestion issues at Newcastle port were now being addressed
through a recently agreed export plan to come into effect next
year, and Xstrata was now acting to ensure it also had sufficient
rail infrastructure to service planned expansions, the spokesman
said.
Xstrata exported seven million metric tons of coking coal and 33
million tons of thermal coal from its Hunter Valley operations in
2008.
The miner's move to run its own trains pitches it as a
competitor to current rail operators in the Hunter Valley, Pacific
National and Queensland Rail.
-By Alex Wilson, Dow Jones Newswires; 61-3-9292-2094;
alex.wilson@dowjones.com
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