Climate crisis: World’s largest coal mine sees value slashed by £1.4bn amid surge in demand for renewables. North Antelope Rochelle mine in Powder River Basin in Wyoming is the world’s largest coal mine and accounts for 12 per cent of the US’s entire coal production. It is a vast surface mine, and the coal pulled out of the ground has some of the lowest sulphur content in the US. The abundance and quality of the coal means eight of the ten largest mines in the United States are located in this one river basin. But this week Peabody Energy, which owns North Antelope Rochelle mine, reported a significant loss, of $1.54bn (£1.17bn), for the second quarter of the year, despite reporting a profit in the same period last year. The energy firm has drastically decreased the estimated value of the mine – to the tune of £1.4bn – in recognition of the dwindling role coal is playing in the energy mix, as cheap gas and increasing wind capacity have come online, while demand for clean energy soars.
Independent 6th Aug 2020 read more »