There’s No Promised Land For Coal, In Australia Or America

There was a time when Australia was the promised land for America’s coal giants. Faced with the decline of coal-fired power and steel-making at home, U.S. miners bought their way into Australian resources situated helpfully on China’s doorstep. Ultimately, it wasn’t enough to stave off bankruptcy. Having emerged from chapter 11 a few years ago, Peabody Energy Corp. finds its Australian business s

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