The small Turkish town of Soma, near the Aegean Sea, was once better known for its spartan houses and quaint surrounding farmland. But ever since 301 miners died last year in a nearby coal mine explosion and fire that changed.
The spending decline comes as U.S. coal miners struggle to clear hurdles on the federal level, including both newly proposed measures and regulations already being implemented.
Teck Resources Ltd. (TSX:TCK.B)(NYSE:TCK) reported increased profit in 2015’s second quarter but as commodity prices slide, the company sees a greater risk of its credit rating being demoted from investment-grade.