We have steadily built up traded volumes in recent years to become a top-three coal trading company. Our focus is on developing incisive trading solutions via efficient delivery methods. As volumes have increased so have our economies of scale and our ability to take advantage of global arbitrage.

We apply these approaches across a full range of thermal coal qualities, in all the major points of origin and across all the major global sales markets. Beyond pure trading, we have access to trade flows through our strategic alliance with Bowie Resource Partners and in our logistics positions on the Mississippi, in Indonesia and in China.

The Galena Asset Management Private Equity Resource Fund’s joint venture asset, Bowie Resource Partners, provides access to 14 million tonnes annually of consistent quality coal from four mines in Colorado and Utah. With Impala’s Burnside Terminal on the Mississippi now fully operational we have ready access to a 15 million tonne capacity facility, which consolidates our logistics position and ability to source, optimise, and market the full range of coal qualities in the region. In China, our domestic subsidiary Transcoal adds an extra dimension to our trading, with scope for over 3 million tonnes annually of both domestic and international coal sales into challenging markets along the Yangtse River. In Indonesia, we have developed two sub-bituminous thermal coal brands, TEK and TSK. Based on close management of a complex supply chain, these coal products present our customers in Asia’s fast-growing power generation sector with reliable deliveries and consistent quality.

In South Sumatra, we have recently invested, together with our partner Titan, in the construction of over 100 kilometres of road and a port that will link the Muara Esim mining area to the Musi river. When this project is completed in 2015, it will enable the export of 12 million tonnes of coal.



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