SOURCE: Industrial Info Resources

Industrial Info Resources

January 13, 2011 05:30 ET

An Estimated $2 Billion of Coal Production Floats Away in Australia, an Industrial Info News Alert

PERTH, AUSTRALIA--(Marketwire - January 13, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- The latest estimates indicate that the continued flooding in the Australian state of Queensland has resulted in approximately $2 billion worth of lost coal production, with some analysts forecasting that more than 18 million tons of coal has been either lost or delayed in processing and shipping. The affected area now covers two-thirds of Queensland, more than the total area of the state of Texas. Some residents of Brisbane, Australia's third-largest city, are beginning to be evacuated. Affected companies include BHP Billiton Limited (NYSE:BHP) and Rio Tinto plc (NYSE:RIO).

As part of our International Metals & Minerals Database, Industrial Info is currently tracking 44 operational coal mines in Queensland, which together produce almost 200 million tons of coal per year. How many of these have sustained major damage and will require major capital expenditure to bring them back into production after the flooding subsides is, as yet, unknown. How the massive flow of water has affected the other 38 plants that are currently in development and scheduled to start production over the next several years is also unclear. The only thing that is clear is that it may take months until the world's largest coal-producing region is back on its feet.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=171875, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. For more information send inquiries to metalsandmineralsgroup@industrialinfo.com or visit us at www.industrialinfo.com.

Follow us on: Facebook - Twitter - LinkedIn - Vimeo