FEATURE ARTICLE

摘要

With metallurgical coal prices persisting at multi-year highs until July, all eyes were focused on the spending habits of the major producers during this period. When prices rose from 2009–2011, miners began prioritising production volumes over cost control, resulting in significant cash margin reductions of up to 90% when prices dropped in 2012. Will this latest price fall once again show history repeating itself? or a case of lessons learned?