Wesfarmers Limited (ASX:WES) has secured 1.5 million tonnes per annum of export port capacity to underpin a ramp up at its Curragh coalmine in Queensland.
The conglomerate has locked in the move through a take or pay contract for port capacity in stage one of the Wiggins Island Coal Terminal.
The Curragh coalmine is currently undertaking a feasibility study to assess the potential to increase metallurgical coal exports to 10 million tonnes per annum.
Wesfarmers says the port capacity secured at the Wiggins Island Coal Terminal would support this expansion.
Last week Wesfarmers announced that it will gain $90 million through the sale of its Premier Coal subsidiary to Austar Coal for $269.8 million.
Wesfarmers annual net profit rose 23 per cent to $1.9 billion in the 12 months to June 30, 2011.
