Polish miner found alive after more than 48 hours trapped underground
State-run news channel TVP Info reported that the miner was conscious when rescuers reached him.
International coal prices hit $124 per ton last week, the highest level in five months, as strong demand from reconstruction projects in Japan and reduced supply from flood-ravaged Australia have made coal supply tight. The floods in Queensland, Australia cut the country’s output of coal by 15%; other big coal producers such as Indonesia, South Africa and Colombia are experiencing similar production cuts due to floods of their own.
At the end of March, coal prices were 33% higher than a year ago, and earlier this month mining giant Xstrata PLC (XSRAF.PK) inked a one-year deal with a Japanese utility at $130 per ton, effectively setting a floor under coal prices in the near-term. That’s up from $98 per ton the company made in a similar deal a year ago
