Aquila Resources and Vale have decided to resume shipping coal from their mine in Queensland. Aquila Resources said that despite the coal being allowed to be shipped from Isaac Plains mine it was to seek legal action to claim damages for the cancellation of earlier shipments.
Brazilian mining company Vale and Aquila resources were unable to agree on terms to sell the coal from the mine in Queensland. This cancelled out shipments of coal causing damages to both. The current agreement to ship coal is a short term solution to the problem.
Chris Coombes the general manager of coal development at Vale said that the dispute had been getting to a stage where many people not directly involved would be affected. That was unacceptable he said. The circuit-breaker does get the job done and allows both parties to continue to conduct business he added.
The Issac Plains mine is not the only place the two companies are in dispute. They are also having trouble over the Eagle Downs project and the Belvedere coking coal project. Chris Coombes said that while the temporary solution at the Issac plains mine does not address all the issues, but it works and it's now up to them to continue negotiating a longer term lifting arrangement.
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Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD.
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