Coal: A dark future ahead?

Falling coal prices often indicate a good time to buy coal miners. Gaurav Sodhi, via Mongolia and America, explains why this ageing industry is one to avoid.

Walk out the front door in Ulaanbaatar and plumes of smoky grit compete with air for lung space. Welcome to the frontier of the mining boom.

Founded by a community of nomadic Buddhist monks, the Mongolian capital has morphed into an inner Asian boomtown. Irish pubs, French cafes and, to the astonishment of the monks that remain, short shirts, have invaded the city.

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