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

e prior year, the company said Wednesday. 

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

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 an

d 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 prio

r year. 

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