That Massive Australian Cyclone Just Shut Down Huge Swaths Of The Country's Coal Industry

Yasi, the massive cyclone that devastated Queensland’s coast and added to the misery caused by flooding there, is having another sizable impact on Australia’s economy.

This time it’s on Australia’s already troubled coal industry. Yasi has shut down three major coal mines and forced the scaling down of two others, according to Societe Generale. It will take 3 days to get all those mines back up and running.

Some good news: ports closed in advance of the storm, and railways halted by its landfall, should reopen today.

The impact of all this on prices should be limited, only because the previous round of floods already sent prices much higher for future quarters.

Don’t miss: 10 ways weather is wreaking havoc on the global recovery >

From Societe Generale (facilities in pink have had operations disrupted by the storm):


Photo: Societe Generale

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