An article in The Age (Ker 2014) states that in 2013 the coal producer Yancoal operated at a loss (of $832 million). It is also described how Yancoal had committed to long-term contracts for access to...

An article in The Age (Ker 2014) states that in 2013 the coal producer Yancoal operated at a loss (of $832 million). It is also described how Yancoal had committed to long-term contracts for access to railway and port facilities for transporting its coal; and that it was required to make large payments for those facilities regardless of whether it used them. Is it possible that – despite making a loss – it was still profit-maximising for Yancoal to remain in operation in 2013?