Tata Steel, the world's seventh-largest steel maker, said on Friday that it would hold on to its shares in Australian miner Riversdale, calling it a strategic stake.
Coal freight lines could start reopening as early as Thursday in Australia's flooded Queensland coalfields as waters recede, rail officials said, prompting predictions of a faster-than-expected start to a recovery in exports.
The devastating floods in Queensland Australia has driven up the prices of certain commodities, including coal, wheat and sugar. With warnings that the flood may not recede for weeks, the longer-term impact on commodity prices becomes a great concern.
