The biggest floods in Queensland, Australia, in half a century are turning into a windfall for U.S. coal mining companies anticipating record profits and the highest exports in 15 years.
Australia Floods Cut 5 Percent of World Coking Coal Supply
Australia’s devastating floods could remove over 5 percent of steelmaking coal from world markets this year and lift prices by a third or more, analysts estimated.
Banpu Buys Centennial for $1.7 Billion in Thailand’s Biggest Overseas Deal
Banpu Pcl, Thailand’s biggest coal producer, agreed to buy the rest of Centennial Coal Co. for A$2 billion ($1.7 billion) in the nation’s biggest overseas takeover to secure supplies as prices climb.
