New Hope prepares for the worst

Even the best of the local coal miners, New Hope, has struggled with lower prices. But, as Gaurav Sodhi explains, this is more than just a miner.

Used to fuel power generators, thermal coal was once considered a stable, even boring, commodity. Yet as Chinese coal demand surged, old ideas began to crumble. After years of steady prices around US$50 a tonne, thermal coal prices surged to US$190 in 2008.

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