Lack of investment in coal has created a supply crunch which has pushed prices skyward.As a global coal supply crunch sets in, pushing prices to stratospheric highs, investors are piling in with anticipation that the good times will roll on for a while still.
In the face of a green energy transition which has seen investors increasingly writing off fossil fuels in recent years, coal prices are experiencing an enormously strong run. After years of subdued pricing, coal reached record highs of over $240 a ton in October last year. As they began to fall toward $100 a ton, no one could have predicted that Russia would invade Ukraine, prompting a supply shock which pushed coal prices up past historic highs of well beyond $400 a ton.Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Fin24 Poor old Greta
Fin24 The irony of this. There is a push away from coal for power generation yet prices are on another level