JWR settled a substantial portion of its annual metallurgical coal contracts for 2007-08 with new contract pricing expected to average about $101 per metric tonne, FOB Port of Mobile.
“We have settled contracts with most of our major European and South American customers," JWR chief George Richmond said.
“Our realised prices and increases in committed tons from our customers in the coming year reinforce our well-established position that Blue Creek coal is one of the highest quality and most strategically located coking coals in the world."
Parent company Walter Industries reported net income for the March quarter of $29.6 million.
During the quarter coal production was very strong and metallurgical coal shipments improved sequentially and versus the prior-year period.
