April 10, 2019 / 6:11 AM / 10 days ago

Glencore wins $520 million deal to sell coal to Mexico

The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann

MEXICO CITY (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.

Reporting by Dave Graham and Sharay Angulo

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