| The surprise surge in coal prices should provide an unexpected profit boost for the world’s biggest mining companies as they navigate a commodity downturn that sapped earnings. Gains for coking coal, used with iron ore to make steel, accelerated in recent weeks and benchmark prices from top producer Australia jumped 9.5 percent on Thursday, the most since at least 2013.
At current prices, that would add almost $5 billion to BHP Billiton Ltd.’s underlying earnings before interest, tax, depreciation and amortization in the year ending June 30, according to Liberum Capital Ltd...............................................Full Article: Source
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