Elman, 77, has watched another global commodity-trading powerhouse collapse before his eyes over the past year: his own.
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The UK-based research and consultancy group has dropped its price forecast to $63 a tonne or 12% below last year’s average of $71 per tonne.
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“We have not seen this kind of growth since before the global financial crisis.”
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The company beat expectations on Thursday with a 5% increase in 2017 production.
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The company reported a “significant pressure event” at its Elkview coal mine.
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