Diversified miner Glencore posted $9.8 billion in total coal revenues in 2017, up 43% from the 

prior year, the company said Wednesday. 

The  Switzerland-based  company,  which  posted $32/mt coal margins, attributed the revenu

e  surge  to  various  factors,  including  Chinese  supply - side  reform,  and  soaring  global 

coal prices. 

Global  seaborne  thermal  coal  demand  grew  more  than  30  million  mt, or 3.7% in 2017, 

Glencore said, driven largely by demand from Asia Pacific markets, notably South Korea and 

China. 

S&P  Global  Platts  assessed  CIF  ARA  6,000  NAR  thermal  coal  at an average price of 

$84.78/mt, up 41.4% in 2017, and assessed FOB Newcastle 5,500 NAR thermal coal at an 

average price of $71.84/mt, up 31% from 2016. 

Thermal  coal  sales  volumes  totaled  106.3  million  mt in 2017, up 1% from the prior year. 

Metallurgical coal sales volumes totaled 2.3 million mt, down 4% from the prior year. 

Australian  thermal  coal revenues  totaled  $5.56 billion, up 36% from 2016. South African 

thermal coal revenues totaled $1.52 billion, up 12% from 2016. 

Revenues at Glencore's Prodeco complex in Colombia totaled $1.21 billion, up 6% from 201

6, and revenues at the Cerrejon mine in Colombia totaled $790 million, up 30% from the prior 

year. 

The company noted an income of $225 million in coal derivative positions settled in 2017. 

"These positions related to portfolio risk management/hedging activities initiated in Q2 2016

 to manage forward sales price exposure, relating to future coal production," the company said.