Rio Tinto Lifts Force Majeure for Kestral Contracts

Bloomberg reported that Rio Tinto has lifted force majeure at thermal coal supply contracts from its Kestrel mine after flooding swamped the rail line.

As quoted in the market report:

The clause, invoked by companies when they miss shipments because of circumstances beyond their control, was lifted on March 12, Matthew Klar, a Brisbane-based spokesman for Rio, said in an e-mail today. The company announced force majeure on Jan. 30, according to a statement on its website.

To view the whole Bloomberg report, click here.