April 10, 2019 / 5:45 AM / in 2 months

Glencore wins $520 mln deal to sell coal to Mexico

MEXICO CITY, April 9 (Reuters) - Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Federal Electricity Commission (CFE) said on Tuesday.

The utility said in a statement that by offering the best price, Glencore won all 12 auctions held to supply a CFE plant in the southwestern state of Guerrero with the coal, for delivery between May and December of this year.

The contracts were worth around $519.6 million in total, a CFE spokesman said.

$1 = 18.8972 Mexican pesos Reporting by Dave Graham and Sharay Angulo

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