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Cline Mining Corporation T.CMK



TSX:CMK - Post by User

Bullboard Posts
Post by cacheitinon Dec 30, 2010 1:37am
413 Views
Post# 17905016

RIO Tinto is the latest miner to enact an emergenc

RIO Tinto is the latest miner to enact an emergenc
Operations at Bowen Basin have been affected by Queensland's monsoonal rains. Source: Supplied
RIO Tinto is the latest miner to enact an emergency clause on its coal contracts because of Queensland's wild weather.
The mining giant last night revealed it had declared the big wet a "force majeure" event, which means it will not be penalised for failing to meet deliveries to customers due to unforseen circumstances.
Rio said the "severe monsoonal rain" had hit its operations in Queensland's coal-rich Bowen Basin, including the Hail Creek, Kestrel, Blair Athol and Clermont mines, and had cut access roads and rail networks.
"As rain is continuing to fall in the region and further rains are forecast, Rio Tinto Coal Australia is currently unable to provide an estimate of the full impact of this adverse weather or the duration of the force majeure declaration," the company said.
Bullboard Posts