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Bets on coal by global mining firms are paying off as Asian demand boosts prices for the fuel
Global mining companies that bet on coal are enjoying the best prices in years—a sign there is money to be made from the industry even as an energy transition to gas and renewables takes place.
Glencore PLC has used rising sentiment against coal to expand its position in the market, scooping up unwanted assets. The Swiss mining and trading giant has a history of pushing into businesses where rivals are reluctant to tread.