This Coal Mine Valued At $630 Million In 2011 Just Sold For One Dollar

Sunday, August 2, 2015
By Paul Martin

by Tyler Durden

To get a sense of the complete devastation in the world of commodities, consider the curious case of Australia’s Isaac Plans coking coal mine, which was valued at $630 million in 2011. It sold on Thursday for $1. it gets worse: based on data from Citi Research, 90% of all M&A that miners did since 2007 has been written off. The commodity bubble has officially burst – feel free to thank China.

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