Inside Australia’s coal bust

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By Leith van Onselen

ABC’s The Business ran a great segment last night looking inside Australia’s coal bust and the impact it is having on mining services companies.

The segment examines a liquidator’s auction in Central New South Wales where giant machines that once cost millions are selling for a fraction of their value, or worse scrap.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.