Economics
Australian Coal Miners Cutting Costs Not Output as Rebound Seen
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Australia’s coal miners will weather a plunge in prices by cutting costs rather than production ahead of an anticipated market recovery next year, according to consultants Wood Mackenzie Ltd.
A forecast 3 percent gain in the price of coal used by steelmakers next year and a decline in the Australian dollar should help ease producers’ pain, said Ben Willacy, a Sydney-based analyst at Wood Mackenzie.