As recently as February 2016 Whitehaven Coal was a local pin-up for the promoters of the stranded asset theory.
Nathan Tinkler's enduring gift to Australian mining had landed at peak debt of $936 million at the nadir of a price recession that fossil-fuel naysayers were rather convincingly promoting as structural and therefore a lead indicator of the end of the coal era.
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Matthew Stevens writes on business, specialising in mining, energy and opinion. Matthew is a senior business writer and columnist. Email Matthew at matthew.stevens@afr.com.au
