The $100 million coal bet

Two of the world's richest resources investors are acting early on signs of a recovery in the coal sector and have increased their stake in Whitehaven Coal.

Coal is not popular with everyone, but even investors with a negative view of the fuel will find it hard to ignore the significance of a $108 million bet placed on an Australian coal miner last month by two of the world’s richest men.

Hans Mende and Fritz Kundrun bought an extra 63.7 million shares in Whitehaven Coal at an average price of $1.70 in a deal which lifts their stake in the stock to around 15% collectively.

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