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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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Recent News

Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...


Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...


Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...


Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...


Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release -  Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing  the international gathering ...


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