Friday, 7 April 2017

Jindal Steel declares force majeure on Australian mine

India's Jindal Steel and Power suspended operations at its coking coal mine in Australia last month due to heavy rains caused by Cyclone Debbie, forcing it to declare force majeure, its chief executive said on Thursday. That makes Jindal Steel, one of India's biggest steelmakers, the sixth miner in Australia to declare force majeure - a clause typically invoked after natural disasters - on coal shipments after Debbie halted operations, crippling the flow of coking coal from the world's top supplying nation. "We couldn't get the trains, we couldn't get the power supply and we had damage caused by the storm when the water came into the mine so it was very dislocating.

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