Strike at the Rix's Creek coal mine in Australia and recovery to normal operations
First written in FY2018-Q2. 1 of 3 entries say "Materialised", first in FY2018-Q2. Latest entry: FY2018.
2 other companies' latest entry also says "Mitigated".
- FY2018MitigatedAnnual report
「The strike ended at the end of October 2017, and had no impact on the following consolidated fiscal year.」
The strike at the Rix's Creek coal mine in Australia ended at the end of October 2017, and the filing states that it had no impact on the following consolidated fiscal year. - FY2018-Q3WorsenedAnnual report
「Segment profit was ¥556 million, compared with a segment loss of ¥555 million in the same period of the previous year. Although production costs increased because of a temporary strike in the coal production field, higher coal prices and other factors led to a profit.」
Regarding the temporary strikes at the Rix's Creek coal mine in Australia and elsewhere, the filing describes their impact on results as an increase in production costs in the coal production field, compared with the previous explanation that the impact was limited. - FY2018-Q2MaterialisedAnnual report
「Intermittent strikes had occurred since June 2017 at the Rix's Creek coal mine in Australia, in which the Company's consolidated subsidiary Mitsui Matsushima Australia holds a 32.5% interest. The strike at the open-cut operation is expected to end, and operations have now returned to normal. As the subsidiary's fiscal year ends in December, with a three-month reporting lag, its results for the period from January 2017 through June 2017 are included, and the impact of the strikes during the cumulative second quarter was therefore limited.」
This is the first disclosure that the risk of intermittent strikes at the Rix's Creek coal mine in Australia since June 2017 had materialized. It also explains that the strike at the open-cut operation is expected to end, operations have returned to normal, and the impact on the cumulative quarter was limited.