30 Jul 2010

Second coal shipment behind schedule

7:56 pm on 30 July 2010

Pike River is preparing to send its second shipment of coal offshore, a month behind schedule.

The company says the 20,000 tonnes of hard coking coal to its customer, Gurarat, is worth about $6 million.

Meanwhile, spot coal prices have fallen to between $US180 - $US190 per tonne due to lower demand.

PIke River is budgeting on coal prices at about $US160 per tonne.

In May, Pike River finished raising $90 million to fast-track large-scale production at its Greymouth mine and repay debt.