Gujarat NRE sees floods raising coking coal demand

Gujarat NRE Coke sees demand for coking coal from its Australian unit 'rising substantially' after floods there hit supplies to Asian steelmakers, a senior official said on Wednesday.

More than two months of torrential rains in Australia's Queensland state, the world's largest exporter of coal for steel-making, have left collieries underwater, rail lines inoperable and coal ports running at a trickle -- if at all. However, Gujarat NRE's Australian mine - located in New South Wales - was unaffected, Chief Financial Officer PR Kannan told Reuters over the telephone. "There are no issues in New South Wales so my mine is operating normally," Kannan said. "But, I'll benefit from higher prices. It will definetely help our fortunes in the last quarter."