One coal CEO sees writing on wall, says make money while you can
Most chief executive officers paint a rosy picture when they talk about their companies’ prospects. Not Guillermo Fonseca.
The CEO of Colombian coal giant Cerrejon – jointly owned by BHP Group, Glencore and Anglo American – isn’t sugar-coating anything. The industry, he says, is in terminal decline, and the company is suffering. Prices slumped, a drought hampered operations, and his mine is on the wrong side of the Panama canal.