2 days ago
- Business
- AU Financial Review
Billionaire bust-up spells trouble for decades old mining empire
About of geological challenges at Queensland's Ironbark coal mine won't help a sale process that was already struggling to find a buyer, but the majority owner of the mine, AMCI, has bigger problems right now.
For close to 40 years, AMCI's global mining and commodity trading empire was built on mutual trust and consensus decisions between its founding fathers, German-born American billionaires Hans Mende and Fritz Kundrun. But trust between the two octogenarians has been lost, and consensus between the pair is increasingly rare.
