Japan's tsunami may affect Asia coal prices: Ministry

The Ministry of Energy and Mineral Resources said on Monday the tsunami disaster that hit Japan last week might affect coal prices in Asia.

The fear will materialize if the ongoing coal purchase contracts between three Japanese main power enterprises and biggest coal thermal exporters in the world Xstrata remains on the balance, the ministry said in a statement.

The ministry said the deal might be delayed following the tsunami.

The main buyers of Australia's thermal coal include Japan's Tokyo Electric Power Co (TEPCO), Tohoku Electric Power Co Inc, and Chubu Electric.

The ministry said Japan imported 24 million tons of coal from Indonesia in 2010, nearly 10 percent of Indonesia's total coal production of 275 million tons. Japan's realized coal imports in 2010 hit 116.5 million tons, with Indonesia supplying around 20 percent of the total amount. (giok)