NO RECOVERY HERE

摘要

The metallurgical coal industry has had a tumultuous few years. The volatility of prices since 2006 - and the shifts in valuations of assets that such movements cause - means that metallurgical coal is a commodity that, depending on timing, has either created or destroyed value for mining companies at an unprecedented level. In the last 18 months, assets have been sold for mere fractions of sums paid for them just a few years ago and some of these eye-watering deals have been a significant factor behind a handful of senior mining executives losing their jobs.