Australia-based coal miner Macarthur Coal Limited has announced that it has signed a long-term contract to supply coal to South Korea's second largest steelmaker Hyundai Steel Company Limited.
According to the terms of agreement, Macarthur will supply low volatile pulverised coal injection material (LV PCI) to Hyundai Steel, which will use this coal in its new blast furnace which has an annual production capacity of seven million mt of steel.
Commenting on the agreement, Macarthur's CEO and managing director Nicole Hollows said, "This agreement with Hyundai Steel is a strengthening of the relationship and extends future cooperation between the companies."