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Isaac Plains coal mine to close next year

BRAZILIAN resources giant Vale and Sumitomo Corp will put the Isaac Plains coal mine in Queensland on care and maintenance next year despite the Japanese trading house buying a 50% stake in the joint venture less than three years ago from Aquila Resources for $A430 million.

Lau Caruana
Isaac Plains coal mine to close next year

The news, which comes after Sumitomo wrote down its Australian coal investments by 30 billion yen, is another blow for the Australian coal industry, which last week learnt that the BHP Mitsubishi Alliance...

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