Forbes Coal Signs 3-Year Supply Deal with Vitol

Reuters reported that Forbes Coal (PINK:FBMCF) and Vitol have signed a three-year coal supply agreement at market price.

The market news is quoted as saying:

Based on Monday’s closing prices, the deal could be valued at about $216.6 million. Thermal coal on the globalCOAL Newcastle index, a benchmark for Asia — the biggest market for coal — closed at $123.75 per tonne for the week to date on Monday.

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