Earlier post is here: Australia dollar – Coal miner plans 3-week shutdown due to oversupply issues
A little more now from the Wall Street Journal:
- Swiss resources company Glencore will shut its Australian coal mines for three weeks
- Shut downs to begin mid-December
- Will reduce Glencore’s production by about five million metric tons
- “This is a considered management decision given the current oversupply situation and reduces the need to push incremental sales into an already weak pricing environment”
