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Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS


Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines will take several months to get fully operational again following the worst floods in 50 years.

With an area just under half the size of the Mediterranean Sea submerged, the extent of the floods is staggering and over 40 mine operators have been effected, brining the state’s coal industry to a virtual standstill.

Queensland exports mainly coking coal used in the manufacturing of steel, but also produces thermal coal for power stations. Industry observers are now worried the price of coal may climb, pushing up the price of associated metals and services such as steel and electricity.

However, Robertson tried to play down these fears Friday, telling the BBC that although spot prices would likely jump, the long term stability of the coal price was sound.

Sites operated by Rio Tinto, Xstrata and Vale are among those effected and the closure of such mines will likely have global consequences as Queensland accounts for 8% of all global thermal coal exports.
Source: Albuquerque Express



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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...


Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...


Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...


Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...


Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton. Thermal coal price for next ...


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