The agreed price serves as an industry benchmark for supplies of seaborne thermal coal in Asia.
Thermal Coal Mining News
India, the world's second-largest coal importer, has defied its prior history of being a price-sensitive buyer and boosted its imports this year.
India's rising coal imports are contributing to higher demand across Asia this year.
Since a price ceiling was imposed at China’s main coal import harbour Qinhuangdao in mid-February, seaborne prices for coal have started to decline.
Adani Group bought into the Queensland basin in 2010, followed a year later by GVK Group, with plans to ship thermal coal by the middle of the decade.
The attack occurred late on Monday in northern La Guajira province where the open-pit coal mine is located.
Drill results of the agreed upon regions estimated to at 540 million tonnnes of thermal coal.