Commodity trader Trafigura said on Friday it was paying Ormet Corp (ORMT.PK) $28 million for the idled Burnside bulk terminal in Louisiana and will invest $100 million to reopen the terminal to handle coal, bauxite and alumina. The terminal sits on the Mississippi River adjacent to an alumina refinery that Ormet said last month it was restarting after five years. The terminal would be the second on the Lower Mississippi River with potential access to rail as well as barge shipments of coal, which gives greater flexibility to exporters than terminal operators who depend on barge delivery. "We are aware that currently the U.S. faces real constraints in supplying coal. The 20 or so terminal facilities across the country are simply maxed out," Simon Collins, a director of Trafigura Beheer, said in a press release.
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