GLOUCESTER COAL LTD ABN 66 008 881 712 Level 9 Citadel Towers (Tower B) 799 Pacific Highway Chatswood NSW 2067 Sydney – Australia Telephone: 61-2 9413 2028 Facsimile: 61-2 9413 4802 Email: [email protected] GLOUCESTER COAL PRESS RELEASE Gloucester Coal Ltd 2005 Japanese Steel Mill Price Settlement GCL has concluded negotiations with the Japanese steel mills in regard to contract tonnage and price for the 2005/2006 Japanese financial year. GCL is pleased to report that the average price for Gloucester coking coal from April will be over US$100 per tonne, an increase of more than US$55 from the current Japanese financial year’s contract price. This is a record sale price for GCL and highlights the significant strength of the coking coal market and the continued support by the Japanese steel mills for high fluidity Gloucester coking coal. GCL Coking Coal US$ Sale Price 0 20 40 60 80 100 120 96 97 98 99 00 01 02 03 04 05 JFY US$/tonne The price increase is the result of strong international demand for steel products and a continued supply shortage of high quality coking coal. The Directors of Gloucester Coal believe that this strong market is likely to continue for the foreseeable future. Gavin May Chief Executive Officer 21 February 2005
GCL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
