https://www.abc.net.au/news/2021-11-21/qld-death-at-curragh-coal-mine-in-bowen-basin/100637610
Condolences to the friends and family of the dead.
It's going to be a rough week for shareholders with sliding coal and suspended operations during peak coal receivable prices. Second fatality in 2 years. Queensland authorities will come down hard, they suspended mine for a few days and tire fitting for an entire month (which hamstringed operations greatly) after last years. The total impact was around a 17-20% reduction at Curragh during Q1 of ROM and Saleable Production.
Anyone with QLD coal experience know how long suspension may last for what QLD deems unacceptable safety? week? Last thing we needed the month we're receiving $300-$400 per ton of coal.
Suspect this could drop below $1 next week, this is why I've been so vocal about diversifying assets through a potential BMC purchase, one asset events like this won't crash the company.
I think key will be what was the fatality related to on how long CRN is suspended, but I suspect production drop of upto 33% is possible based on last years fatality.
Fatality at Coronado Curragh - All Work Suspended
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