It is interesting to see the ASX coal stocks up this morning on the back of the Grosvenor mine fire. WHC up 4% and CRN up 8%. It is almost a re-run of the S32 Groote Island storm which shut down manganese mining on the island. Groote Island was producing around 12% of the worlds manganese supply. This prompted a rush (delayed) for the other ASX listed manganese producer, Jupiter.

Very roughly, the Grosvenor mine produces around 7mtpa of which around 5mtpa is coking coal and Australia is exporting around 200mtpa. So pretty small beer.

Where the market maybe getting too excited is the impact of this could be not just on Anglo American the owner of the Grosvenor mine. Queensland Dept of resources may crack down on safety at the other miners. That may adversely impact production at WHC (just bought the Queensland BHP met coal assets) and CRN whose principal Coking coal mine is the QLD Curragh mine, though has other mines on the east coast of USA.

If you were to be buying anything on this news it might be a coking coal operator with most of its operations outside of Queensland. Though who really knows.