Thursday, July 8, 2010

[cpsnewswire] (Bloomberg) Sojitz to Expand Coal Trade 18% With Access to Mongolian Mine

Sojitz to Expand Coal Trade 18% With Access to Mongolian Mine

July 8 (Bloomberg) -- Sojitz Corp. will boost coal trading by about 18 percent after the Japanese trading company won an agreement from Prophecy Resource Corp. to market the fuel to China from a Mongolian mine.

Coal trading will rise to about 20 million metric tons a year in the year starting April 1, 2012, from 17 million tons, Yoshikazu Ichikawa, a spokesman for the Tokyo-based company, said today in a phone interview. Sojitz agreed to jointly market power station coal from its Canadian partners 208 million-ton Ulaan Ovoo coal deposit, according to a June 7 statement.

The Japanese trader will start selling 250,000 tons of Mongolian coal in the year to March 2011, and 3 million tons two years later, Ichikawa said.

Itochu, Japans fourth-largest trading company by market value, invested in Winsway Coking Coal Holdings Ltd. in April to secure coal from Mongolia, the company said May 17.

Link to article


"Mogi" Munkhdul Badral

CPS International


Mobile: +976-99996779

CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based ASX Licensed Financial Services Company. To trade ASX stocks, feel free to contact me at or +976-9999-6779.

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