Report - Goldman Sachs - not working (at the coal mine)

Blow Tube For Coal Burning Containers

Goldman Sachs got a disconcerting update a year after buying its second coal mine in Colombia: 'Certain operational issues have arisen, commodities executives reported'.

MarketWatch reports that was putting it mildly. Local women and children had formed a human blockade to protest labour issues, shutting down production. Coal prices had dropped 20% in three years, and another 6% decline could permanently impair the value of Goldman’s investment, the executives told directors in late 2013.

After that, the bad news kept coming. Coal prices tumbled by more than 40%. An environmental law shut down production for most of last year.

To access the complete MarketWatch article hit the link below:

Goldman Sachs in talks to sell its coal mines

B. of A. relents on vote over Moynihan’s dual roles

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts