Findings show ‘zombie mines’ often restarted during coal price spikes and mothballed as prices return to normal levels
Findings show ‘zombie mines’ often restarted during coal price spikes and mothballed as prices return to normal levels
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Coalmines recently marked for closure in Queensland were previously shuttered due to being uneconomic, new analysis shows, undermining claims from the resources companies that they are being forced to close by the state’s royalty regime.
The “zombie mines” were often restarted in anticipation of windfall profits during coal price spikes, which occurred when Russia invaded Ukraine in early 2022.
Continue reading...Source: Guardian - World News
