Japanese trading company Marubeni Corporation (Marubeni) and Chinese coking coal producer Winsway Coking Coal Holdings Limited (Winsway) have executed a strategic cooperation agreement to expand coal sales to the Chinese market through Winsway.
The parties started their cooperation in the financial year 2009 to reach targeted sales of over 2 million metric tons per annum of coking coal produced in Australia, Canada and other countries.
This strategic cooperation agreement includes provision for joint coal resource development to be conducted by both parties in the future and the possible consideration by Marubeni of the acquisition of a shareholding in Winsway.