The biggest floods in Queensland, Australia, in half a century are turning into a windfall for U.S. coal mining companies anticipating record profits and the highest exports in 15 years.
With maps of 675 square miles of his Illinois mines before him, Chris Cline recalls the moment he knew the coal in those mines would be worth billions of dollars.
Chris Cline became a billionaire by betting on a dirty fuel the world can’t get enough of.
Alpha Natural Resources Inc. , the third-biggest U.S. coal producer, said it’s assessing opportunities to expand its operations.
Massey Energy Co. , owner of the West Virginia mine where 29 people died in April, surged after it said Chief Executive Officer Don Blankenship will retire at the end of this month.
Massey Energy Co. , owner of the Upper Big Branch coal mine where 29 people died in April, plunged a day after it said it expects to report a third-quarter operating loss and lowered its shipment forecast.
"We believe MEE will be taken out."
- David Khani on Dec 06, 2010