OREANDA-NEWS. February 02, 2011. Australia's coal industry is bracing for another blow to exports as a huge cyclone moves toward the northern Queensland state, forcing the two coal mines, part of the state's coal haulage system, and several coal export ports to shut down on Tuesday. Queensland, Australia's largest coal-producing state, is still recovering from the floods which brought the state's mining industry to a near standstill and there is a risk that more severe weather could make the recovery even more difficult. The Yasi Cyclone, comparable to the Katrina Hurricane which had devastated New Orleans in 2005, will hit the Queensland coast early on Thursday, following close on the heels of the Anthony Cyclone which soaked parts of the state over the weekend.
Millennium Capital: the news Is POSITIVE for the SHCHZ, and YASK, as SHCHZ is the largest producer of deficit “K” grade coking coal in Ukraine, affiliated with Yasynivka Coke. Yasinivka Coke keeps most of its output for exports, thus being in the best position among the Ukrainian coke producers to benefit from the rising global prices for coke. The positive impact from the global coke prices growth is going to be less for AVDK, as it supplies most of its produce to the affiliated steel producers.
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