Major producer Xstrata (LSE:XTA) declared force majeure on several shipments of coal from its Queensland, Australia operations after heavy rainfalls flooded rail lines there. The disruption affected over a dozen mines that ship coal to the port of Gladstone. The company said mine operations themselves were not materially affected by the rains.US coal junior Corsa Coal (TSXV:CSO) said last week that the company sold 57,000 tons of metallurgical coal during the fourth quarter of 2012 for an average realized price of US$123 per ton. The output was slightly above previous guidance of 55,000 tons. For the 2012 year in total, Corsa produced 373,000 tons of metallurgical coal.
Chinese Coal Sector Consolidates As Indian Coal Imports Surge
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.