| Goldman Sachs Group Inc. is in talks to sell its Colombia coal mines at a loss, according to people familiar with the negotiations, Ianthe Jeanne Dugan reports. Goldman faced protests, falling coal prices, an environmental law and the Federal Reserve considering limits on the ways commercial banks can produce, store and sell raw materials, as it struggled to make the investment pay off.
A deal in the wake of Goldman’s sales of power plants and an aluminum-storage business would mark the end of the bank’s rough experience as a producer of raw materials. But it plans to continue trading raw materials and related financial instruments and making a market in commodities for its clients. Its commodities operations represented about $1.5 billion in revenue in 2013, down from about $3.4 billion in 2009...............................................Full Article: Source
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