CANADIAN MINES AGREE TO CUT COAL PRICE
Members of the Bull Moose coking coal mine
in British Columbia, Canada, agreed to cut the base price they
charge Japanese steelmakers to 91.77 Canadian dlrs a tonne FOB
for the year from April 1, down 14 dlrs from 1986/87, an
official at a company involved in the deal said.
    The Nippon Kokan KK <NKKT.T> official said the cut was
agreed after five months of talks between <Teck Corp>, <Rornex
Mining Corp Ltd> and <Nissho Iwai Coal Development (Canada)
Ltd>.
    He said the Japanese side would continue to ask the miners
to improve the quality of Bull Moose coal's ash specification.
    Japanese steel mills and several Canadian exporters
including the sellers of Bull Moose coal have had several
rounds of negotiations on coking coal base prices this year,
industry sources said.
    The Japanese steel firms started a new round of base price
talks with <Quintette Coals Ltd> yesterday, while discussions
with <Gregg River Co Ltd> will be held later this month, they
said.
    Nissho Iwai Coal is a unit of <Nissho Iwai Corp> of Japan.
 REUTER
