Tue Mar 8, 2011 7:46am
SYDNEY, March 8 (Reuters) - Australian rail-freight company QR National plans to re-open its Rolleston coal line in northern Australia on Tuesday night, about 10 weeks after it was closed due to flood damage.
The line services Xstrata's Rolleston coal mine, which had declared force majeure in December on some coal deliveries out of the mine due to the impact of the floods.
A force majeure is a legal let-out suspending sales obligations due to factors beyond a supplier's control.
An Xstrata spokesman was not immediately able to comment on whether or not the company has lifted force majeure on the mine's exports.
Rolleston produces about 8 million tonnes per year of thermal coal used for power generation and Xstrata is the world's largest exporter of thermal coal.
Benchmark prices for Australian thermal coal rose above $140 a tonne earlier as supplies were crimped by floods at several mines. Australia is the world's second-biggest exporter of thermal coal. (sourced:Reuters)
Tags : Australia thermal coal prices, benchamark prices
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