Xstrata lifts force majeure at Australia coal mine PERTH (Reuters) - Xstrata (XTA.L: Quote, Profile, Research), the world's biggest thermal coal exporter, said on Thursday it lifted force majeure on coal shipments from its Rolleston mine in Australia, which produces 8 million tonnes of thermal coal annually. "We've sent out a note to clients today informing them that the force majeure has been lifted and shipments will resume shortly," said James Rickards, a spokesman from Xstrata's coal unit in Australia. The resumption of exports from Rolleston could drive prices below $120 a tonne, traders say. Prices for prompt-delivery of thermal coal, used for power generation and making of cement, have sagged by around $30, or 20 percent, from a record $150 in early February, as urgent demand among North Asian utilities eased. Xstrata joined a handful of miners in declaring force majeure following February's heavy rainfalls in the coal-rich Bowen Basin of Queensland. Shipments from its 8-million-tones-a-year Newlands thermal coal mine and the 4.9 million tonnes a year Collinsville mine, remain under force majeure, Rickards said. Collinsville yields thermal and coking coal. Rio Tinto Ltd/Plc (RIO.AX: Quote, Profile, Research)(RIO.L: Quote, Profile, Research) on Wednesday said it had resumed shipments at its 4.5-million-tonnes-a-year Hail Creek coking coal mine in Australia. source: Reuters 27 March 2008
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