The floods currently rampaging through the state of Queensland have had a negating effect on the health of the state and its people. But, according to the latest news available, they have also affected the working of Boyne Smelters Ltd.
Apparently, the majority stake holder of the aluminium smelter, Rio Tinto has announced that some deliveries have been cancelled or delayed because of the floods in QLD. The largest aluminium smelter factory in Australia is located in Gladstone, Queensland.
The current situation has led to Rio issuing a force majeure, which happens to be a contractual clause for Companies that are not able to deliver on time because of circumstances, which are not under their control. The crises have already had a negating effect on the connectivity of places like Gladstone and Brisbane.
Rail and road connectivity in particular has been affected because of the calamity which has also prevented deliveries to several domestic and international customers.
A statement issued by the organization has informed that it is currently looking into other means of transporting goods and is looking to make use of shipping through Gladstone port.
Despite the crisis situation, shares for Rio Tinto witnessed a hike of $1.86 on Thursday to end at $87.05 for the day.
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