Business
Glencore to suspend Hunter Valley coal mines as China restricts imports – Sydney Morning Herald
Several of Glencore’s coal mines across the Hunter Valley will be suspended as COVID-19 and Chinese import restrictions damage coal demand.
Export prices for thermal coal, one of the country’s top export commodities, have been sliding as the coronavirus-driven industrial downturn weighs on global energy demand. But the situation for exporters to China including Glencore has been made tougher this year following an escalation of Chinese import restrictions.
While unofficial limits are often imposed in China as away to support its domestic miners, a souring of diplomatic relations between Canberra and Beijing this year over calls for…
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