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Rio puts squeeze on Japanese buyers

RIO Tinto has reportedly asked Japanese utilities for a coal contract price of $US135 per tonne as world supply continues to tighten in the wake of flooding in Australia, a power crisis in South Africa, monsoons in Indonesia and snowstorms in China.

MiningNews.Net

The price is a 143% hike on previous thermal coal contracts of $US55.65/t, Business Spectator reported. Industry reports said Xstrata was also negotiating with Japanese utilities two weeks ago tabling...

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