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Korean firm in deal with Russian coal company

World Coal,

Korea Midland Power Co. (KOMIPO), has signed an agreement with Carbo One – the second-largest mining company in Russia – for a long-term purchase of coal and a preferential coal supply.

KOMIPO, a power generation subsidiary of Korea Electric Power Corp., will be supplied by 280 000 tpa of high grade coal.

Part of the deal states that the Korean firm will receive to coal from the nearest port of registry in the event of a supply crisis.

KOMIPO runs a 4000 MW power plant in Boryeong, South Chungcheong Province, which consumed 14 million tpa of coal. It plans to build more thermal power plants after 2016, increasing coal consumption to 25 million t.

KOMIPO said that, because Russia was geographically closer than Australia – Korea’s main coal source – deliveries are expected to be faster. 

Edited from various sources by Sam Dodson

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