Coking Coal prices are set to rise further as another incident of production disruption in Australia has come to the fore.
In a recent incident, functioning failure of a ventilation fan at the Appin underground mine, owned by South32, a Perth-based miner, has forced the miner to temporarily suspend mining operations tentatively for a month.
The failure of the ventilation fan at the Coking Coal mine, situated in New South Wales, has substantially increased Methane Gas concentrations, resulting in the temporary suspension of operations due to safety concerns.
According to South32, 500,000 ton of production will be hit due to the incident.As a consequence of the supply disruption, prices of Coking Coal will rise further.
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