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.
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