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News for SCS123
    25 May 2011 - Energy and Natural Resource Finance for Acquiring Concession of Minerva Coal Mine: Supporting secure energy resources and their stable supply to Japan from the Port of Gladstone
Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe)  signed today a loan agreement totaling up to 144.71 million US dollars with Sojitz Coal Resources Pty Ltd (SCR), a subsidiary of Sojitz Corporation in Australia. The loan was co-financed with Australia and New Zealand Banking Group Limited. 
About one half of the thermal coal produced in the mine is sold to Japanese power utilities and cement manufacturers based on long-term contracts through Sojitz Corporation, which is engaged in marketing in Japan. The coal produced by the Minerva coal mine has a quality required for power generating facilities of Japanese end-users. In addition, the coal is shipped from the Port of Gladstone, a port that has relatively short demurrage, thus reducing the risk of delayed delivery. Another advantage is that it will help the end-users avoid the concentration of supply source in a major supplier with diversification of supply sources.

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