Tuesday June 2, 2020

CMC Coal’s revenues plummeted by €1 billion in 2019

Poor results blamed on price collapse and shrinking demand in Europe

Daniel Murray

Business Reporter

29th March, 2020
Employees at Cerrejon Coal Mine, La Guajira, Colombia. Picture: Bloomberg

Revenues at CMC Coal Marketing fell by €1 billion in 2019, as European coal markets shrank and prices collapsed last year.

CMC Coal Marketing is the Irish-registered distributor for coal mined out of the Cerrejón mine, one of Colombia’s largest coal mines. Half of its total coal sales are made in Europe, with the other half being distributed around the world.

Revenues at the company almost halved, falling from $2.7 billion (€2.4...

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