4 p r oduc t i on c apa c i t y of 3 M t y w i t h p r oduc t i on beg i nn i n g i n m i d 2015 and S t ag e 2 w oul d ad d an addi t i o nal ca p ac i t y of 3 Mt y by 2017 T he m i ne l i f e i s pr o j ec t ed t o be appr oxi m at el y 30 y ea r s T R A D E I n 2012 C ana da e xp or t ed 3 48 M t of coa l up 3 2 co m par ed t o 33 7 M t i n 2011 Tabl e 2 C ana da i s t he wo r l d s t hi r d l ar g es t cok i ng coa l expo r t er T ab l e 4 C ana di a n c ok i n g coa l expo r t s i ncr ea s ed by 11 t o 3 07 M t i n 2012 f r om 277 M t i n 2011 du e t o i nc r ea se d g l ob al d em and C ana da i m por t ed 9 8 M t o f coa l i n 20 12 C ok i ng coa l a cc oun t ed f or 45 of i t s t o t a l coa l i m por t s a n d t h e r es t w as t he r m al coa l de st i n ed f o r co al f i r ed pow er g ene r a t i on and i ndu st r i a l u se s P R I C E S I n 201 2 t he ben chm ar k pr i ce f o r ha r d c ok i ng coa l av e r ag ed U S210 p er t onne t I t st ar t ed t he y ea r at U S2 35 t i n t he f i r s t qu ar t e r w ent dow n t o U S 210 t i n t h e se cond quar t e r r ea c h ed U S2 2 3 t i n t he t hi r d qu ar t er and d r opp ed t o U S 1 68 t i n t h e f o ur t h qu ar t er B as ed on C ana d i an c us t om s r ec or d s t h e a v er ag e a chi e v ed uni t v al u e i n 2012 o n a f r e e on bo ar d f ob bas i s w as 193 t f or cok i n g coa l expo r t s and 98 t f or t he r m al coa l expo r t s T he a v er ag e uni t v al u e i n 2012 f o r C an adi an i m por t e d c ok i ng coa l w a s 1 4 9 t a nd f o r i m por t e d t h er m al co al w as 65 t T he m aj o r i t y of dom es t i ca l l y sour ce d coa l w as f r om so ca l l ed m i ne m out h oper at i ons wh i ch i nv ol v e ext r ac t i ng coa l f r om a m i ne s i t e and t h en t r uck i ng i t t o ad j a ce n t coa l f i r ed pow er g ene r at i on p l an t s t o pr oduc e e l ec t r i c i t y T he m aj or i t y of m i n i ng and p ow er g ene r at i on o per at o r s a r e en g ag ed i n l ong t er m cont r ac t s Sh er r i t t t he l a r g es t t her m al c oal pr od uce r i n C ana da r epo r t ed an av er ag e r ea l i z ed pr i ce of 1 748 t i n 20 1 2 H ow ev er t hi s pr i ce i s m er el y a r e f l ec t i on of t he cos t of m i ni ng c oal a nd ca nnot be r eg ar ded as t he p r ev ai l i ng m ar k et pr i ce WO R LD P R O D U C T I O N T he w or l d s t o t a l coa l p r od uct i on w as es t i m at ed at 7 8 65 Mt i n 2 01 2 o f w hi ch c l ose t o ha l f 46 w a s pr oduc ed i n C hi n a N ot es 1 For def i n i t i ons a nd val uat i on o f m i n er a l pr o duct i on shi pm e nt s and t ra de pl eas e re f er t o t he do cumen t en t i t l ed D e f i ni t i ons and Va l ua t i on M i n er al P rodu ct i on Sh i pm en t s and Trad e 2 I nf ormat i on i n t hi s r e vi ew w as c ur re n t as of Ap ri l 30 20 1 3 3 Thi s and o t he r r ev i ews i nc l udi ng pr ev i ous e di t i o ns are av ai l ab l e on t he I n t er n et a t w w w nrc an gcc a m i ni ng m at er i al s m ar ke t s comm od i t y re vi ews 8360