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Junior coal miner defaults on debt in weak market
TIM KILADZE
— The Globe and Mail
Published
Last updated
The rough coal market is claiming another victim: Canadian junior Cline Mining Corp.
With the price for metallurgical coal sinking, miners both big and small are struggling. Earlier this fall Walter Energy Inc. incurred a billion-dollar write down, which came less than two years after it shelled out $3.3-billion to buy Western Coal Corp.
