Monday, January 17, 2011

Expecting Australian Coal Mines to Remain Under Water for Months


he recent floods in the state of Queensland in Australia have ravaged the operations of coal mines, specifically those that mine coking coal. Queensland produces roughly 90% of the coking coal in Australia, so that's a huge impact to the global trade of this commodity.
According to this report from Mining Weeklysome of the flooded mines, especially open pit mines, could be off line for up to 6 months. It's still early in the process, but it'll be interesting to see how this will play out on demand and pricing.

See the rest of the article at Seeking Alpha

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