Cecilia Bergamasco

Contributor

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Coal’s inexorable decline: a mine worth millions is sold for a dollar

Coal’s inexorable decline: a mine worth millions is sold for a dollar

The collapse in coal prices is real. The “Isaac Plains” coking coal mine in Australia, valued at 860 Australian dollars (about $631 million) three years ago has been sold for $1. According to Bloomberg, the Brazilian mining group Vale SA and Japan’s Sumitomo Corp. offloaded the “Isaac Plains” mine for just $1, selling it to