Glencore wins USD$520 million deal to sell coal to Mexico

Global trader Glencore

has won contracts worth around USD$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.

Mexico’s transition to renewables shows room for improvement

dm