![Coal’s inexorable decline: a mine worth millions is sold for a dollar](https://cdn.lifegate.it/nbpHmnJh_xVWYVTT-xOqPOnAFD4=/200x133/smart/https://www.lifegate.com/app/uploads/carbone-australia.jpg)
Coal’s inexorable decline: a mine worth millions is sold for a dollar
The collapse in coal prices is real. The “Isaac Plains” coking coal mine in Australia, valued at 860 Australian dollars (about $631 million) three years ago has been sold for $1. According to Bloomberg, the Brazilian mining group Vale SA and Japan’s Sumitomo Corp. offloaded the “Isaac Plains” mine for just $1, selling it to