Commodity Trade Mantra
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Posts Tagged ‘Australian Mining Boom’

This Coal Mine Valued At $630 Million In 2011 Just Sold For One Dollar

The total value of the Isaac Plains coal mine in 2011 was just about $630 million. In September 2014, Sumitomo and Vale shuttered the mine citing the downturn in the international coal market. Isaac Plains was then added to the long list of coal mines up for sale – for a princely sum of $1. Why the complete collapse in price of the coal mine? Simple: blame China.

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