Friday, February 04,
Coal and metals mines, railroads and ports are reopening in Queensland after suffering minimal damage yesterday from Tropical Cyclone Yasi, the first Category 5 storm to strike the Australian state since 1918.
Rio Tinto Group, the world’s third-largest mining company, and Xstrata Plc are restarting coal operations in the Bowen Basin, the companies said today in separate statements. The state is recovering from its worst floods on record and Tropical Cyclone Anthony that crossed the coast on Jan. 30.
“Our big worry is that the coalfields will get hit by another major wet weather event,” Michael Roche, chief executive officer of the Queensland Resources Council, said today in e-mailed comments. “Anthony and Yasi delivered some rain to some mines but not anything like the levels they experienced in December and January.”
Yasi was downgraded to a tropical low last night as it weakened and moved inland, prompting Dalrymple Bay Coal Terminal Pty to resume ship loading and track operator QR National Ltd. to reopen lines. Queensland is the world’s biggest supplier of steelmaking coal and its northern region accounts for about a third of Australia’s sugarcane production. Category 5 is the highest level in the classification system.
Source: Bloomberg
Leave a Reply