January 26, 2013 - 11:13 AMT
Rain, flooding stops coal exports in Australia’s Queensland

Rain and flooding in Australia's eastern state of Queensland caused by the remnants of Cyclone Oswald have stopped some coal exports and shut part of the coal transport rail system, but the wet weather is not expected to have a significant impact on mine operations, industry sources said Friday, Jan 25, according to Reuters.

Australia is the world's largest metallurgical coal exporter, accounting for roughly two-thirds of global trade.

Coal export loadings at the Dalrymple Bay terminal were shut on Thursday and Friday due to rough weather, but would likely resume early Saturday if weather conditions allowed, said Greg Smith, general manager of operations.

A tropical low is moving south along Queensland's coast but has a very low likelihood of strengthening back into a cyclone, according to the Australian Bureau of Meteorology. Australia's cyclone season runs from Nov. 1 to April 30.

Cyclones and rain during the 2010-2011 season forced dozens of companies to evacuate flooded coal mines, and wiped out a significant amount of production for much of the year.