Collapse in Coal Prices Spurs Distress for Indonesian Miners

[abu afak]

Yes coal is slowly dying.
This being the favorite fuel/bellwether/In-Yo-Face of the warming skeptic Marlboro men.
It's a crappy if plentiful resource, especially in the age of lots of NG.

Collapse in Coal Prices Spurs Distress for Indonesian Miners
By Denise Wee and Fathiya Dahrul
Bloomberg - Are you a robot?
Updated on October 21, 2019, 2:14 AM EDT

• 
  Bonds sold by Indonesia coal firms trade at distressed levels
• 
  Questions about long term prospects for coal miners: Aberdeen

The global collapse in coal prices this year has dealt a particularly heavy blow to miners in Indonesia, the top exporter and one of the largest producers of the fuel.

Bonds from the country’s financially weak miners have suffered more than peers elsewhere in Asia due to a lack of diversification and state backing that many competitors enjoy. Prices of thermal coal -- the kind burned by power plants -- have slumped about 33% this year, and at least four U.S. firms have gone bankrupt.

As some lenders look to stop financing coal power plants and investors are under more pressure to “go green,” companies that mine or use coal are left with fewer funding options.......​

,

 

[william the wie]

NG from coal works very well indeed, coal employment will decline, but coal field revenues not so much.

 

[Wyatt earp]

Yes coal is slowly dying.
This being the favorite fuel/bellwether/In-Yo-Face of the warming skeptic Marlboro men.
It's a crappy if plentiful resource, especially in the age of lots of NG.

Collapse in Coal Prices Spurs Distress for Indonesian Miners
By Denise Wee and Fathiya Dahrul
Bloomberg - Are you a robot?
Updated on October 21, 2019, 2:14 AM EDT

• 
  Bonds sold by Indonesia coal firms trade at distressed levels
• 
  Questions about long term prospects for coal miners: Aberdeen

The global collapse in coal prices this year has dealt a particularly heavy blow to miners in Indonesia, the top exporter and one of the largest producers of the fuel.

Bonds from the country’s financially weak miners have suffered more than peers elsewhere in Asia due to a lack of diversification and state backing that many competitors enjoy. Prices of thermal coal -- the kind burned by power plants -- have slumped about 33% this year, and at least four U.S. firms have gone bankrupt.

As some lenders look to stop financing coal power plants and investors are under more pressure to “go green,” companies that mine or use coal are left with fewer funding options.......​

,

So coal is cheap yet you want to use 1,800 year old technology

 

[ReinyDays]

Bumi Resources 8% Bonds are selling at $0.70 on the dollar, maturing on Dec 11th 2022 ... that's one hell of a return on investment if the company lasts that long ... just saying ...