The New South Wales thermal coal producer provided few details about the contract negotiation in its update on the $A2 billion takeover offer by Thai energy giant Banpu.
Centennial said the long-term coal contract was with one of the state’s power generators at a price that “better reflects” export parity pricing.
Meanwhile, Banpu’s takeover remains subject to Foreign Investment Review Board approval and Banpu must meet a 50.1% minimum acceptance condition.
Banpu has not yet extended its $6.20 per Centennial share offer, due to expire on September 27.
Centennial shares are up 3c to $6.09 this morning.
