Australian company Resourcehouse Ltd. said Saturday that it has struck a $60 billion, 20-year agreement to supply coal to China Power International Development Ltd., calling it Australia's biggest export contract. Resourcehouse said it would supply 33 million tons (30 million metric tons) of coal a year to the Chinese company, at a price of about $3 billion a year, for 20 years starting from about 2014. The deal will help bring about the planned development of a series of mines and other infrastructure including a 310-mile (500-kilometer) rail line and port facilities in the Galilee Basin in northeastern Queensland state, according to a report of The Associated Press.
