Wesfarmers Ltd (ASX:WES) has said its contract prices for metallurgical coal from its Curragh mine would fall by about 10 per cent in the current quarter.
In a statement released today, the company also said 60 per cent of the current quarter sales would fall under the new price.
Meanwhile, the Wesfarmers Insurance Division has renewed its Australian and New Zealand reinsurance program for the year ending 30 June 2012. The event limit under the Insurance division’s property catastrophe excess of loss program has increased from $400 million to $750 million.
For the second half of last year, Wesfarmers (ASX:WES) reported a profit of $1.173 billion.
