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Climate Change Could Be Double-Edged Sword for Australian Coal

Australia is raking in huge amounts of cash from coal—due both to bad geopolitics and bad weather. The war in Ukraine is a key factor boosting benchmark Asian coal prices, which recently hit a new high. But some very unusual weather is also shutting mines and transport links down under.

In the short term Australia, one of the world’s two top coal exporters, and coal miners like Glencore will benefit from even more pricing power.