Operator of Cerrejón coalmine reports bumper profits as turnover reaches $2.5bn
Company says rising demand from Europe and China and increasing coal prices strengthened its performance
The Irish-registered company that owns the controversial Cerrejón mine in Colombia reported bumper profits and a 262 per cent spike in revenues last year as demand surged and prices rose.
CMC Coal Marketing DAC, which is owned by London-listed commodity trader Glencore, posted turnover of $2.53 billion in 2021, according to recently filed accounts. That came after a historic low of $699.14 million in 2020, the lowest figure in the company’s 18-year history.
After tax, ...