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Thermal coal investment sours for Tribeca

Investing in US thermal coal producer Paringa Resources by taking on a A$40 million secured loan facility from Macquarie Bank looks to have been a bad decision by Tribeca Global Natural Resources, which has taken the decision to write down the value of the debt by an eye-watering 80%.

Thermal coal investment sours for Tribeca Thermal coal investment sours for Tribeca Thermal coal investment sours for Tribeca Thermal coal investment sours for Tribeca Thermal coal investment sours for Tribeca

Thermal coal losing energy market share in the US

Tribeca was one of a syndicate of lenders supporting the Kentucky-focused coal miner, which filed for bankruptcy protection in February to facilitate the sale of the operating Poplar Grove mine, part

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