London - Australia's Continental Coal has signed a $40-million thermal coal off-take deal with EDF Trading for production from Continental's South African mines, the company said in an announcement on the ASX website.
EDF Trading is pre-paying for export coal from Continental's three mines under development in South Africa, sources close to the company said.
EDF will receive one to two cargoes per month, starting from the second half of 2010.
Continental Coal is developing three mines in Kwazulu Natal but is yet to obtain export capacity at Richards Bay or other South African ports. - Reuters