Father Christmas likes coal!
Another present for us, albeit an unusual one:
(from 'The Australian' Monday 20 December 2021):
"Citigroup Inc. and its partners abandoned the creation of a fund that aimed to shorten the life of coal mines after the group struggled to convince investors of the plan’s green-energy merits, according to people familiar with the matter.
The bank teamed up with commodities trader Trafigura Group Pte. Ltd. and Resource Capital Funds, a private-equity firm, to pitch an investment vehicle earlier this year known as Coal to Zero. The fund planned to buy mines in the U.S., Australia and South Africa and run them with the promise of shutting them down by 2040, according to people familiar with the matter and a marketing document seen by The Wall Street Journal...
...The fund’s failed fundraising coincided with a surge in thermal-coal prices. Demand for the fuel in the power-generation sector is expected to reach a record this year..."
Father Christmas likes coal!Another present for us, albeit an...
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