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The coal glut has become so acute that Glencore, one of the world's largest mining companies, decided on November 14 to close all of its Australian coal mines for three weeks beginning in mid .

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Sep 05, 2019 · Prices for seaborne [export] met and thermal coal are also lower. Shares of Peabody traded down more than 7% at 17.27 in the noon hour Thursday, in a 52-week range of 17.10 to .

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The complex has the capacity to produce 28.5 million tonnes of coal a year, while the halted Bailey mine accounts for 11.5 million annual tonnes of the total capacity.

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China is the largest producer and consumer of coal in the world and is the largest user of coal-derived electricity. The share of coal in the energy mix declined during the 2010s, falling from 80% in 2010 to 60% in 2017. Domestic coal production also decreased with a year on year decline of 9% in 2016. However, imports of coal increased to compensate for the cuts to domestic coal .

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