SOURCE: Industrial Info Resources

Industrial Info Resources

January 03, 2011 05:00 ET

Wild Australian Weather Could Cost Mining Companies Millions, an Industrial Info News Alert

PERTH, AUSTRALIA--(Marketwire - January 3, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Eastern Australia has been hammered with wild weather over the holiday season. Queensland's coal-producing regions have experienced the worst of the weather. The state has been suffering through the worst flooding in 50 years and is currently expecting a damage bill of more than $1 billion. Several of the area's major coal mining companies, including Rio Tinto Limited (NYSE:RIO) (London, England), Cockatoo Coal Limited (ASX:COK) (Sydney, Australia) and Macarthur Coal Limited (ASX:MCC) (Brisbane, Australia), have already declared a force majeure at some of their Queensland operations, allowing them to miss delivery deadlines due to circumstances beyond their control.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=171330, 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