Billionaire Glasenberg’s Last Deal Says Coal Isn’t Dead Yet (1)

Ivan Glasenberg is Mr. Coal. The most successful commodity trader of his generation built his career on slaking the world’s thirst for cheap energy with countless shiploads of the fossil fuel, a trade that made him both the boss and biggest shareholder at Glencore Plc.

Now, Glasenberg is on his way out, stepping down this week after almost two decades as chief executive officer of the resources giant. As the world navigates the transition to a low-carbon energy system, many expect coal to head the same way, replaced by huge investments in solar and wind power.

But in his ...