AngloAmerican boss sees coal mines closing at a rate of one a fortnight

By Amanda Saunders
Updated September 19 2014 - 2:13am, first published September 18 2014 - 10:12pm
The market is in oversupply and "if the price is not north of $US150, you've got stress right across the industry," Mr Cutifani says. Photo: Louise Kennerley
The market is in oversupply and "if the price is not north of $US150, you've got stress right across the industry," Mr Cutifani says. Photo: Louise Kennerley
The market is in oversupply and "if the price is not north of $US150, you've got stress right across the industry," Mr Cutifani says. Photo: Louise Kennerley
The market is in oversupply and "if the price is not north of $US150, you've got stress right across the industry," Mr Cutifani says. Photo: Louise Kennerley
The market is in oversupply and "if the price is not north of $US150, you've got stress right across the industry," Mr Cutifani says. Photo: Louise Kennerley
The market is in oversupply and "if the price is not north of $US150, you've got stress right across the industry," Mr Cutifani says. Photo: Louise Kennerley
The market is in oversupply and "if the price is not north of $US150, you've got stress right across the industry," Mr Cutifani says. Photo: Louise Kennerley
The market is in oversupply and "if the price is not north of $US150, you've got stress right across the industry," Mr Cutifani says. Photo: Louise Kennerley

AngloAmerican chief Mark Cutifani said he expects metallurgical coalmines will be mothballed at a rate of one every two or three weeks around the world until enough supply has fallen out of the beleaguered sector to drive a price recovery.

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