China is paying through the nose for coal from North America while it rejects or defers shipments from Australia.
The high-priced coal buying was revealed in an update from Toronto Stock Exchange-listed Teck Resources, which said it had boosted sales into China and achieved a huge premium on Australian product.
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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
