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Xstrata Coal wins Premier NSW Export Award
XSTRATA COAL WINS PREMIER’S NSW EXPORT AWARD
Sydney, 20 October 2006
Xstrata Coal has won the Minerals and Energy category of the 2006 Premier’s New South Wales Export Awards.
Announced last night, the prestigious State award was presented to Xstrata Coal in recognition of its continuing contribution to the NSW export industry, generating significant revenue for the State and providing employment opportunities for locally based employees.
Xstrata Coal’s NSW operations will this year produce about 40% of Xstrata Coal’s global production and more than a third of the State’s coal production.
"Xstrata Coal is proud to be recognised as a significant contributor to the NSW economy and business environment. We are active in our communities and continue to be committed to our local NSW operations and the safety and health of our employees," said Chief Executive, Peter Coates.
"We contribute some AUD1.5 billion to the NSW economy each year through the payment of NSW Government royalties, wages and rail and port charges and through investment in mines, goods and services."
More than 2,000 people are employed in the Company’s NSW underground and open cut mines, the majority of which are located in the Hunter Valley, with the remainder in the western coalfields.
Almost 90% of Xstrata Coal’s NSW production is sold in Japan, South Korea and Taiwan, with exports of AUD2 billion in 2004-2005, with some tonnage also destined for Mexico and other smaller markets in the Asia-Pacific Region. While most customers are based in North Asia or Europe, the company supplies coal to every continent except Antarctica.
The export business is underpinned by about 6 million tonnes of domestic sales, mostly under long-term contract to local NSW end-users.
"As the only major global coal export company that retains its head office and all major corporate functions in NSW, Xstrata Coal has a clear commitment to the State," said Peter Coates.
Xstrata Coal has also committed significant financial support to the development and implementation of Clean Coal Technology (CCT) projects, including the development and testing of CO2 storage and methane power generation projects both in QLD and at its Teralba site in NSW.
The Company is a major contributor to the AUD300 million COAL 21 fund for the development of Australian clean coal technologies. A co-operative initiative involving State Governments, the Commonwealth Government, the scientific community, power generators and the coal industry, COAL 21 is recognised globally for its innovation and the collaboration of all parties towards establishing a low emissions future.
Xstrata Coal has recently invested in and developed a number of greenfield and brownfield sites in NSW focused on export production, including the Mt Owen/Glendell expansion (AUD100m investment), the Liddell expansion (AUD100m), the Bulga/Beltana underground mine (AUD350m) and the Ulan mine expansion (AUD140m).
The Xstrata Coal business is world scale, with net assets of some US$6.3 billion and total revenue of over US$3 billion per year.
Ends
For further media information:
James Rickards
Communications Manager
Xstrata Coal
Phone: 02 9253 6789
Mobile: 0419 731 371
Email: jrickards@xstratacoal.com