Power Group Online Article |  | |
July 16, 2003 -- Coal producers in Australia have completed a $100 million agreement to supply coal to the Philippines, according to the Herald-Sun Australian newspaper.
The announcement was made July 13 by Filipino President Gloria Arroyo and could represent a new export market for Australia.
Under the deal, the Philippines-owned National Power Corp. agreed to use Australian coal for about 25 percent, or nearly 1 million tonnes, of its coal needs for the next two years.
Australian coal producers will soon go through a competitive bidding process to determine the supplier of the coal to the Philippines.
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