Coal mining sector running out of time, says Citigroup

Industry unlikely to pick up without advances in carbon capture technology as governments seek to drive down emissions, banking giant warns. RTCC reports US banking giant Citigroup says the global coal industry is set for further pain, predicting an acceleration of mine closures, li uidations and bankruptcies. The value of listed coal companies monitored by Citi has shrunk from $50bn (£32bn) in 2012 to $18bn in 2015, a trend it believes will continue. “On the…

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Coal mining sector running out of time, says Citigroup

Industry unlikely to pick up without advances in carbon capture technology as governments seek to drive down emissions, banking giant warns. RTCC reports US banking giant Citigroup says the global coal industry is set for further pain, predicting an acceleration of mine closures, li uidations and bankruptcies. The value of listed coal companies monitored by Citi has shrunk from $50bn (£32bn) in 2012 to $18bn in 2015, a trend it believes will continue. “On the…

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