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Colombian coal tycoon defies slump in prices

Wednesday, August 26, 2015

Murray Energy Corp. plans to increase output at the Colombian coal mines it bought from Goldman Sachs Group Inc. this month, betting it can lower costs enough to withstand the prospect of several more years of low prices.

The U.S. coal producer founded by Robert E. Murray intends to push up the annual output rate at the La Francia mine in northern Colombia to 3 million tons by the end of the year from about 2.5 million tons now.

Source: Bloomberg