What this coal mine sale says about the future of the industry
Ithaca Resources agreed to purchase the bankrupt Vitrinite assets, including the Vulcan coal mine, for $200 million, finalizing the deal next week. This sale highlights a trend where larger companies are divesting from coal in favor of smaller firms, which may struggle to absorb economic shocks. Vitrinite had accumulated $400 million in debt before its collapse.
Summary by OZbrief Editorial · ABC News – Australia · Source
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Published 24 Jun 2026, 05:50 UTC · Updated 24 Jun 2026, 06:01 UTC
Summary by OZbrief Editorial. Original report: ABC News – Australia. Editorial policy · Corrections
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