Peabody declares force majeure on North Goonyella mine

seekingalpha.com Company,  International 2018-10-10 13:40:00

Australian metallurgical coal miner Peabody Energy declares force majeure on deliveries of coking coal from its North Goonyella mine in Australia due to elevated levels of gas at the mine site, market sources said on October 9.


The North Goonyella mine, located in the Australian state of Queensland, produces mainly premium mid-vol coking coal for export via the Dalrymple Bay Coal Terminal, south of Mackay, to global seaborne demand centers.


The underground fire that started in late September has made it difficult for Peabody to assess the situation and draw any conclusions about when it will be able to restart normal operations, forcing it to declare force majeure on its delivery contracts.


Peabody had said it did not expect any production from the mine for the rest of this year, but the outage could be extended into next year.


In 2017, 2.9 million tonnes of coal were sold from the North Goonyella mine.


(Writing by Becky Du  Editing by Tammy Yang)
For any questions, please contact us by inqury@fwenergy.com or +86-351-7219322.

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