Launceston — Glencore wants to keep its coal mines but run them down over time, believing this will be a better outcome for the climate than selling them to another operator or spinning them into a new company.
While it is arguable that this is actually a better outcome for the environment, it’s also possible that Glencore is setting itself up for a conflict with shareholders, both existing and potential, who are likely to demand firmer action on coal than a long goodbye, even if an extended exit is more profitable...
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