Glencore seals $520 million Mexican coal deal

Glencore seals $520 million Mexican coal deal

Global energy trader, Glencore said it has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico.

Mexico’s state-run power utility company, the Federal Electricity Commission (CFE) disclosed this on Tuesday.

The utility said in a statement that by offering the best price, Glencore won all 12 auctions held to supply a CFE plant in the southwestern state of Guerrero with the coal, for delivery between May and December of this year.

The contracts were worth around $519.6 million in total, a CFE spokesman said.