Joshua Robertson resports in The Guardian (29.1.16) on the potential cost to small investors when big mining companies abandon unprofitable mines.
‘A Brisbane mining minnow that raised less than $750,000 from investors before inking a deal to buy a coalmine must now guarantee it can pay more than $120m to clean up the site upon closure. Batchfire Resources’ agreement to buy a central Queensland mine from Anglo American highlights a growing shift by global coal giants away from less-profitable mines, leaving the fate of expensive environmental rehabilitation in the hands of companies with far fewer resources.’