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Anglo American declares force majeure on Moranbah North Mine products

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Anglo American declares force majeure on Moranbah North Mine products

Singapore — Miner Anglo American on Feb. 25 declared force majeure on its Moranbah North Mine metallurgical coal products, a company spokesperson told S&P Global Platts Feb 26.

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"Notice of the force majeure event was given as a result of the coal heating incident at Moranbah North on Feb. 20 and the subsequent directive by Resources Safety & Health Queensland to suspend operations," the spokesperson said.

Operations at Anglo American's Moranbah North coking coal mine in Queensland, Australia, have been suspended on safety concerns following a gas leakage, the company said in a statement Feb 22.

"A gas leakage issue may not be resolved anytime soon," a trader said. "Moreover, the Queensland authorities are involved at this stage and I would expect the authorities to take some time to evaluate the situation. It's not so straightforward."

"I think the impact would be widely felt in the spot market in the following few months when supply becomes evidently more squeezed," the trader said.

A producer source confirmed that he had received enquiries from an end-user this week seeking spot tonnages as the end-user had been affected by the suspension of Moranbah North.

Some traders said they had received inquiries from end-users due to the suspension.

"The details of the force majeure notice is important as well, to understand the extent of the impact for each user," a trader said.

Anglo American said Feb. 22 that it had been "mining through some particularly challenging geology," but there was "no evidence that an explosion had occurred."

"Methane levels on the longwall were well within the regulatory levels," it said.