COAL
Buying bargain-bin coal mines amid the worst commodity slump in a generation has turned into a savvy bet as prices of the fuel surge.
Stanmore Coal bought the Isaac Plains metallurgical coal mine in Australia for A$1 in July 2015 from Brazilian miner Vale SA and Japan’s Sumitomo when the price of met coal, used to make steel, averaged the lowest in about a decade and just three years after the mine was valued at A$860-million.
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