it could be that some shareholders are reassessing their...

it could be that some shareholders are reassessing their exposure to coal - thermal coal in particular and there needs to be a shake out process until the coal mining assets are in the right hands of companies that have a longer term commiment to that part of the market. Rio are out, BHP and Anglo want to get out of thermal coal and BHP is having trouble getting a buyer or right price from mt arthur. note the remarks in international coal news today:

"...Wood Mackenzie global head of multi-commodity research James Whiteside said energy companies would continue to lead the way in divestment and diversification to manage emissions risk."Investor pressure will not allow the largest metals and energy producers to stray from the path they have now committed to," he said."Even if some nations prioritise near-term economic growth over sustainable growth, there is enough momentum behind the initiatives and commitments made by other public and private stakeholders alike to drive the green agenda forward in 2021."BHP is believed to be struggling to find a buyer for its Mt Arthur thermal coal mine in New South Wales.The company recently recognised an impairment charge of between US$1.15 billion and $1.25 billion in relation its NSW Energy Corporation thermal coal operations..."