The edge of the cyclone, one of the most powerful recorded, came ashore in north Queensland state, heading directly for sugarcane fields and threatening a 300,000-tonnes-a-year copper refinery in the coastal city of Townsville.
"We've shut everything down and that situation is likely to carry on for several days until a clearer picture emerges," said Josh Euler, a spokesman for the refinery owner, Xstrata.
Global miners BHP Billiton and Peabody Energy have also shut several coal mines located in coal-rich Queensland ahead of the cyclone, whose center is due to hit land early on Thursday.
BHP's Peak Downs, South Walker Creek and Broadmeadow coal mines were all shut, which have a combined capacity of over 15 million tonnes of coal per year of coking coal. Peabody closed its Burton mine, which produces 2.7 million tonnes of coal per year.
Earlier this week, a 30,000 tonnes-a-year nickel refinery at Yabulu shut down ahead of the cyclone, and the major coal export terminals of Dalrymple Bay and Gladstone stopped loading ships.
Shipping in and out of the region has come to a standstill, with ports along hundreds of kilometers of coastline closed and bulk carriers retreating from the cyclone zone to safe anchorages.
Copper prices climbed to a record high of nearly $10,000 a tonne on Wednesday, fueled by tight supplies and optimism over growing demand. Any further disruptions to supply would only add pressure to the price.
Posts
