ASCIANO LTD 
By
Asciano Limited (ASX:AIO) division, Pacific National Coal, is pleased to advise that it has entered into a new Rail Haulage Agreement with Whitehaven Coal Mining Limited (Whitehaven), effective from January 2014 and expiring in June 2026.
The new agreement (which replaces the previous agreement between Pacific National Coal and Whitehaven) provides for a more efficient train fleet configuration in readiness for full 30 tonne axle load operations, planned to commence during 2015. The agreement volume is unchanged at 9.5mt pa under the current 25 tonne axle load conditions, and increases to 11.5mt pa following the introduction of 30 tonne axle load conditions.
The new agreement provides Pacific National Coal with the certainty required to commit to the more efficient fleet configuration. Whitehaven will benefit through an overall reduction in per tonne haulage costs as, by using more efficient fleet, less overall train services are required for any given volume. In addition to train service efficiencies, significant benefit is also derived for Whitehaven from the increased efficiency in the utilisation of track capacity.
David Irwin, Director Pacific National Coal, said: "We are pleased to have worked constructively with Whitehaven to create this 'win/win' agreement and look forward to delivering Whitehaven improved efficiency, higher levels of service and reduced per tonne haulage costs. At the same time, we have materially extended the duration of our NSW contracted portfolio while continuing to meet our internal return targets."
Asciano Limited regards the new Agreement as a significant and positive step, reflecting Pacific
National Coal and Whitehaven's shared confidence in the long term outlook for Australian coal mining.
- Ends -
Investor and Analyst Enquiries:Kelly Hibbins
Phone: + 61 2 8484 8046
Email: Kelly_hibbins@asciano.com.au
Media Enquiries:Richard Baker
Phone: + 61 408 985 008
Email: media@asciano.com.au
|
distributed by
|
