Brightstar Resources (BTR:AU) has announced AME: Supreme Court of Western Australia approves Scheme
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The ongoing disputes between the Malian government and international mining companies continue to intensify as Barrick Gold (NYSE:GOLD,TSX:ABX) recently confirmed four Malian employees from its Loulo-Gounkoto mining complex had been arrested.
Barrick reported on November 26 that the employees had again been detained and charged pending trial. The company stated it refutes the charges, and said it remains committed to engaging with the government to reach a resolution that ensures the long-term viability of its operations in Mali.
This marks the latest development in a series of confrontations centered around Mali’s lucrative gold mining sector.
The new arrests come just weeks after Mali demanded US$162 million in back taxes from Resolute Mining (ASX:RSG,LSE:RSG) and detained its CEO, Terence Holohan, along with two senior executives, on November 8.
The detentions were linked to a sector-wide audit conducted by the government. Resolute denied the claims and stated that it had followed all official processes in response to the audit. However, the company ultimately agreed to the payments, and the government released the executives on November 21.
As of November 28, Resolute has paid US$130 million to the government, and plans to pay the rest by the end of the year.
As for the conflict between Barrick and Malian authorities, it has been ongoing since late September, when the same four employees were detained for the first time. Barrick and the government reached a preliminary agreement on September 30 to establish a framework for resolving disputes and increasing the state’s share of benefits from the Loulo-Gounkoto complex, resulting in the employees’ release.
However, on October 8, the Malian government announced it wanted at least US$512 million from the company, claiming outstanding taxes and dividends. Then, in late October, the Malian government accused the company of breaching commitments under an agreement designed to ensure a fairer distribution of mining revenues.
Barrick disputed these claims and emphasized that it had made a US$85 million payment to the government as part of its efforts to resolve outstanding issues.
However, negotiations have stalled in recent weeks, culminating in the new detentions.
Mali government’s efforts to restructure mining agreements
Mali’s military-led government has been pushing for greater control over the mining sector since it revised its mining code. It seized power in the country through a coup in 2020.
The updated framework requires foreign companies to cede more financial benefits to the state, which heavily relies on gold mining as a primary source of revenue.
The detentions of employees from Barrick and Resolute reflect the government’s changed stance in asserting its authority over the sector. Officials argue that increased revenue from mining is essential for national development, but the confrontational approach has raised concerns among international investors.
Resolute and Barrick are among the largest mining operators in Mali, and their disputes with the government could have far-reaching implications for Mali’s mining sector, which accounts for a significant portion of the country’s GDP and export revenue.
The heightened tensions are creating instability in the sector, and industry observers warn that the government’s actions risk alienating foreign investors, potentially affecting production levels and slowing future investment.
Barrick has highlighted its 30 year history of cooperation with successive Malian governments, and its president and CEO, Mark Bristow, is calling for continued dialogue to resolve the current impasse.
“Our attempts to find a mutually acceptable resolution have so far been unsuccessful, but we remain committed to engage with the government in order to resolve all the claims levied against the company and its employees and secure the early release of our unjustly imprisoned colleagues,” Bristowe said in the company’s most recent update.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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The day before Thanksgiving, the stock market took a little breather. But the weekly performance was still impressive.
The Dow Jones Industrial Average ($INDU) remains the broader index leader, rising 0.96% for the week. The S&P 500 ($SPX) and the Nasdaq Composite ($COMPQ) ended the week with smaller gains than the Dow. Earlier in the week, investors were more bullish, but Wednesday’s selloff didn’t disrupt the uptrend.
It may have been a short trading week, but we got a handful of economic data to chew on. The revised Q3 GDP data shows the US economy grew at a 2.8% annual rate, last week’s jobless claims came in lower than expected, and durable goods fell 0.2% in October.
The Fed’s preferred inflation gauge, PCE rose 2.3% year-over-year in October, which was in line with expectations but slightly higher than last month’s 2.1% rise. This indicates that inflation is moving away from the Fed’s inflation target of 2%. Core PCE came in higher at 2.8% year-over-year.
Earlier this week, we had the FOMC minutes. They indicated that the Fed will gradually cut interest rates if the economy continues to perform as expected. According to the CME FedWatch Tool, there’s now a 66.5% probability of a 25-basis-point rate cut in the December meeting.
The Stock Market’s Reaction
Looking at the 5-day change in performance using the StockCharts MarketCarpets, heavyweights NVIDIA Corp. (NVDA), Alphabet Inc. (GOOGL/GOOG), and Tesla Inc. (TSLA) were the largest decliners. The performance of these large-cap stocks would have been the tailwinds that held the Nasdaq and S&P 500 back.
FIGURE 1. 5-DAY PERFORMANCE OF THE S&P 500 THROUGH THE MARKETCARPET LENS. There’s a lot of green, but some large-cap stocks saw declines.Image source: StockCharts.com. For educational purposes.
This week, money rotated from energy and technology stocks into real estate, consumer staples, and financial stocks. Antitrust efforts against Alphabet and now Microsoft, along with tariff talks impacting semiconductor stocks, have hurt the stock prices of several mega-cap tech stocks. With cash leaving these stocks, small- and mid-cap stocks have benefited, although they, too, came off their highs by the end of Wednesday’s trading.
The Dow reached an all-time high on Wednesday but sold off, ending the day slightly lower. The uptrend is still intact, as seen in the daily chart below.
FIGURE 2. DAILY CHART OF THE DOW JONES INDUSTRIAL AVERGE ($INDU). The uptrend is still intact with the 21-day EMA, 50-and 100-day SMAs trending upward. The Dow is outperforming the S&P 500 slightly.Chart source: StockCharts.com. For educational purposes.
The Dow is trading well above its upward-sloping 21-day exponential moving average (EMA). It’s also slightly outperforming the S&P 500 by 1.27%. The S&P 500 has a similar pattern, but the Nasdaq Composite is struggling.
The daily chart of the Nasdaq below shows that it is underperforming the S&P 500, albeit slightly.
FIGURE 3. DAILY CHART OF NASDAQ COMPOSITE. Even though the Nasdaq is the weaker performer of the three broad indexes, its trend is still positively sloped and holding the 21-day EMA support. The Nasdaq is underperforming the S&P 500 slightly.Chart source: StockCharts.com. For educational purposes.
The long-term trend is still in play. The 21-day EMA is trending upward and continues to be a valid support level for the index.
In the Bond World
The biggest action this week was the sentiment shift in the bond market. Treasury yields were rising until last week. However, several events this week have eased inflation fears, resulting in declining Treasury yields and rising bond prices (bond prices and yields move in opposite directions). Wednesday’s PCE data didn’t change the directional move.
The chart below shows that the 10-Year US Treasury Yield ($TNX) met resistance at its July 1 close and reversed. It is now trading below its 21-day EMA.
FIGURE 4. DAILY CHART OF THE 10-YEAR US TREASURY YIELD. The 10-year yield hit a resistance level and, since then, has been trending lower. It is now trading below its 21-day EMA. The rate of change (ROC) indicates the decline is accelerating.Chart source: StockCharts.com. For educational purposes.
The rate of change (ROC) indicator in the lower panel is below zero. This means that yields are falling relatively quickly.
The bottom line: Equities may have sold off on Wednesday, but nothing to disrupt the uptrend. A little profit-taking ahead of the holiday shopping season shouldn’t come as a surprise. You deserve to celebrate consumerism once in a while.
Wishing everyone a happy, healthy Thanksgiving!
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
Having used many technical analysis platforms over my career as a technical analyst, I can tell you with a clear conscience that the ChartList feature on StockCharts provides exceptional capabilities to help you identify investment opportunities and manage risk in your portfolio.
Once you get your portfolio or watch list set up using the ChartList feature, you can use these five powerful tools to break down the list of stocks or ETFs, identify patterns of strength and weakness, and anticipate where the next opportunities may arise!
Summary View to Identify Outliers
The Summary view is a great starting point, sort of like a high level menu of what all we can do with this list of charts. All of the columns are sortable, so we can begin to find patterns and relationships by grouping similar stocks by sector or sorting by market cap.
One of my favorite things to do right off the bat is sort by “Next Earnings Date”. Whether you’re a long-term investor or a swing trader or somewhere in between, you always want to know when earnings could create a sudden move in either direction!
ChartList View to Analyze Technical Patterns
Once I’ve made some general assessments about the stocks on my list using the Summary View, I like to use the ChartList view to review each chart, one by one. This view uses the alphabetical order of the titles of your charts, so make sure to add numbers before the tickers if you prefer a particular order.
Especially when I’m reviewing a longer list of tickers, I’ll use the ChartList view to go through a bunch of charts, jotting down tickers on my notepad for further review later in the day. It’s easy to switch all of the charts to a different ChartStyle, which comes in handy if you want to switch to weekly or monthly charts, for example. Just select one of the charts, change the ChartStyle, then look for a link called “Apply ChartStyle to All” at the bottom!
CandleGlance View to Separate Into Buckets
When I worked at a large financial institution in Boston, I would print out a bunch of charts representing a particular fund’s holdings, then spread the charts out on a conference table. I’d look for similar patterns and structures, and start to separate the charts into bullish, bearish, and neutral piles. From there, I could focus my attention on the most actionable charts.
The CandleGlance view provides this capability without having to print out all of those charts! We can easily detect similar patterns and signals, helping me spend my time on the most actionable charts within a larger list. I can’t tell you how much time this one feature has saved me in terms of efficiently breaking down a list of charts! Don’t forget that you can customize the ChartStyle you use for this view, allowing you to apply your own proprietary charting approach to this visualization.
Performance View to Focus on Consistent Winners
What if you just want to analyze the performance of a group of stocks or ETFs, to better understand which charts have been the most and least profitable over a period of time? The Performance View shows a series of time frames in tabular format, allowing you to focus on top and bottom periods over multiple time frames.
This can be a fantastic way to break down your portfolio, helping you better understand which positions have been helping your performance, and which ones may actually have been holding you back!
Correlation View to Understand Price Relationships
Finally, we come to one of the most underutilized features of ChartLists, and that’s the Correlation View. This can help better define the relationship between two different data series, and identify which stocks or ETFs could help us diversify our portfolio.
I like to sort this view in ascending order based on the 20-day correlation as a starting point. Which stocks demonstrated a very different return profile from the S&P 500? When it feels as if all stocks are doing about the same thing, this one feature can help you quickly identify outliers and positions which could help you improve your performance through diversification.
I’ve found the ChartList capabilities to be some of the most powerful features on the StockCharts platform. Once you get into the habit of using these incredible list management and analytical tools, I hope you’ll enjoy a greater amount of market awareness in your life!
RR#6,
Dave
PS- Ready to upgrade your investment process? Check out my free behavioral investing course!
David Keller, CMT
President and Chief Strategist
Sierra Alpha Research LLC
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.
ChemX Materials (CMX:AU) has announced Agreement with Vytas Ltd for High Purity Assay Services
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Siren Gold (ASX:SNG) announced on Tuesday (November 26) that it has completed the sale of its wholly owned subsidiary, Reefton Resources, to Rua Gold’s (TSXV:RUA,OTCQQB:NZAUF)wholly owned subsidiary Reefton Acquisition.
Reefton Resources is the owner of the Reefton project in New Zealand.
The sale will establish Rua Gold as a dominant landholder in the Reefton region, with approximately 1,196 square kilometers of tenements in the historical and past-producing Reefton Goldfields, which produced over 2 million ounces at 15.8 grams per tonne gold.
According to Siren’s resource update for its Reefton project on September 17, the project’s deposits host a combined inferred JORC compliant mineral resource of 483,000 ounces of gold from ore grading 3.86 grams per tonne gold, as well as 14,500 tonnes of antimony at a grade of 1.7 percent.
Rua will also be positioned as the preeminent gold explorer in New Zealand, with a market capitalisation of approximately AU$41.9 million.
In exchange for Reefton Resources, Rua will pay Siren AU$18 million in shares and a further AU$4 million cash. The cash payments include: forgiving an AU$1 million promissory note upon signing the agreement, an AU$1 million cash payment at completion and the issue of 10,000,000 Siren shares to Rua (or its nominee) at AU$0.20 per share around the completion date.
Once the sale is complete, Siren will have a 26.1 percent stake in Rua, and Rua will hold a 7.51 percent stake in Siren. Rua will also transfer the Langdons antimony-gold project back to Siren.
“Since we listed Siren on the ASX in 2020, the vision has been to consolidate the historical Reefton belt to give it the best chance of bringing the multiple high-grade projects into a central processing hub model,” Siren Managing Director and CEO Victor Rajasooriar said.
Following this transaction, Siren will concentrate on the Sams Creek gold project and the Langdons and Queen Charlotte antimony-gold projects.
For its part, Rua will focus on the exploration and development of the combined Reefton belt. The company completed a C$8 million capital raising in July.
Siren first publicised this transaction on July 15, and the deal was approved by its shareholders on October 28.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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Join Tony as he walks you through a Macro Market outlook, and shares his top bearish and bullish options trading ideas. He talks growth vs. value, commodities, bonds, the Dollar Index, sectors like homebuilders and semiconductors, and stocks like NVDA, DIS, INTC, and more.
This video premiered on November 26, 2024.
On November 21, 2024, Citron Capital shorted MicroStrategy Inc. (MSTR). What made this confrontation particularly electrifying was the clash between two titans: Citron, a legendary short seller, and MicroStrategy, arguably the strongest stock of 2024.
Why did Citron short MicroStrategy? Citron called its $91 billion valuation a reckless Bitcoin bubble. MSTR began buying Bitcoin in 2020; it currently owns 1.7% of the global Bitcoin supply and some analysts expect the company to own 4% by 2033. Citron viewed MSTR’s Bitcoin hoarding as a leveraged gamble that could implode if Bitcoin falters.
To see the impact of MSTR’s crypto trade, look at the correlation between the stocks and the crypto on a weekly chart.
FIGURE 1. WEEKLY CHART OF MICROSTRATEGY. The Correlation Coefficient in the bottom panel shows how MSTR strongly correlates with Bitcoin. MSTR has also outperformed the S&P 500 ($SPX).Chart source: StockCharts.com. For educational purposes.
The stellar rise in MSTR from a low of $43-and-change in January to a high of $543 in November has been anything but smooth and steady. MicroStrategy is a business analytics company that provides exposure to both AI and Bitcoin (due to its heavy accumulation). It’s like two trades in one. StockCharts’s Correlation Coefficient indicator shows how correlated MSTR is to $BTCUSD. You will want to keep an eye on this: if Bitcoin rises or falls, it will likely affect MSTR’s stock price.
You can also see MSTR’s relative performance against the S&P 500 ($SPX). Currently, it’s outperforming the broad index by over 300%. Overvalued and risky? That’s Citron’s take, and you can see the plunging effect of Citron’s thesis as it took action in the market.
Nevertheless, MSTR still ranks within the Top 10 of StockCharts Technical Rank (SCTR) report, its technical strength holding its measured position despite the big short and the risk it entails.
FIGURE 2. SCTR REPORT ON TUESDAY, NOVEMBER 26, 2024. MSTR is fourth from the top, with a SCTR score of 99.5.Image source: StockCharts.com. For educational purposes.
If this remains true, might the stock experience a bounce, attracting prospective bulls to enter positions at perceived discount levels? If so, where? Let’s shift to a daily chart.
FIGURE 3. DAILY CHART OF MSTR. Note how the swing points correspond cleanly with the Fibonacci Retracement lines.Chart source: StockCharts.com. For educational purposes.
Drawing Fibonacci Retracement levels from the August low to the November high, you can better contextualize the pullback to see where bullish investors may be looking for entry points. Note that I circled each level to highlight each potential support area.
One place that buyers may be looking for an early bounce is at the swing high point right above $380, which coincides with the Fib 38.2% retracement. While some buyers might have jumped in, that level may be too aggressive an entry as the price is looking to break below it. The next potential support levels are the swing low between $318 and $320, which converges with the Fib 50% line, and, below that, the October swing high near $267, which is close to the 61.8% Fib retracement level.
Should any of these points trigger a bounce, check volume and buying pressure as a potential indicator for institutional support. Right now, if you look at the Chaikin Money Flow (CMF), you can see that sellers are firmly in control of the stock (see green circle). You will want to see that situation reverse, with the CMF line crossing above the zero line.
Your Next Action Steps
While watching these levels, do the following:
- Add MSTR to your ChartLists. This ensures you can have the chart handy with all key levels when monitoring it.
- Set a price alert for when the price crosses below $323. Once it crosses below this level, prepare for a potential bounce somewhere between $318 and $320. You could also set a second alert for when the price crosses above $375, the 38.2% Fibonacci retracement level. This could be an entry point for a potential upside move.
- Also, keep an eye on the CMF; if there’s a bounce, you’ll want to see buyers taking control of the market.
This should give you ample time to observe and respond, assessing whether the technical context signals a buy or a wait-and-see. You can also check the fundamental story to see what’s happening with the stock, particularly if the technicals remain fuzzy.
At the Close
MicroStrategy’s meteoric rise in 2024, fueled by its double play on Bitcoin and AI, has made it a magnet for both bulls and skeptics. While Citron’s short position underscores bearish concerns about overvaluation and leverage risk, the stock’s technical strength and correlation with Bitcoin continue to attract bullish attention. Keep an eye on support levels and for any shift between buying/selling momentum. The technical levels above should map out the key areas to watch and key technical events to anticipate.
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
For thousands of years, coal has been an important source of heat and energy.
The fossil fuel played a crucial role in the Industrial Revolution, and today it’s the largest source of energy for electricity generation in the world — in total, coal generates over one-third of the world’s electricity.
But is coal’s role in the energy landscape fading? Maybe. However, there’s still a case to be made for the world’s dirtiest energy source. While its use has fallen in many countries, demand in others is rising. Additionally, it plays an essential role in steel-making.
Read on to find out how to invest in coal, the coal market outlook, as well as metallurgical and thermal coal stocks and ETFs you can invest in.
In this article
What is coal and what is it used for?
Coal is a hydrocarbon (carbon plus hydrogen), or fossil fuel, that contains the stored energy of prehistoric vegetation. The oldest coal dates back to 360 million years ago, and was formed when swamps and peat bogs were buried due to shifts in the Earth’s tectonic plates. Subjected to pressure and heat deep underground, the plant material in the swamps and bogs underwent a chemical reaction, creating coal.
There are four main categories of coal that are based on the type and amount of carbon in the coal and how much heat energy it can produce.
The most commonly mined classifications are sub-bituminous coal and bituminous coal. Sub-bituminous coal is used primarily as fuel for steam-electric power generation. Bituminous coal makes up more than half of the world’s coal reserves and accounts for a majority of the coal industry.
Bituminous coal is divided into two types: thermal and metallurgical. Thermal coal is used in energy generation for heating, but it is also used for cement manufacturing and other industrial purposes. Metallurgical coal, also known as met coal or coking coal, is used to produce coke, the primary source of carbon used in steelmaking.
Top coal-producing countries
In 2023, the three top coal-producing countries in the world were China, India and Indonesia, which combined represent 70 percent of the record 8.9 billion metric tons of coal production for the year. The US was the fourth largest coal producer in 2023, and saw its production decline by 2.8 percent over the previous year.
The US, Russia, Australia, China and India are the countries with the largest proven coal reserves, representing 75 percent of total global coal reserves. Japan, India, China, South Korea and Taiwan among the largest importers of coal.
Coal industry trends
Global coal demand has been on a declining trend since 2014, especially in Europe and the United States. However, this trend reversed in 2021, according to the International Energy Agency’s (IEA) 2021 coal report. Lower supply and rebounding coal demand in China — the world’s largest consumer — pushed prices for the material to record highs that year.
Russia’s invasion of Ukraine elevated coal demand and prices in 2022 and 2023 as European countries such as Germany and Italy fired up previously mothballed coal plants to make up for sidelined natural gas supply. Coal usage rose by 3.3 percent in 2022 and 2.6 percent in 2023 to reach new all-time highs in both years based on IEA reporting.
The electricity and industrial sectors are the largest end users of coal. The electricity sector alone accounts for two-thirds of coal demand worldwide, making it a main driver of global coal demand trends, explains the IEA.
How much impact the renewable energy transition will have on the global coal market and how soon it will happen will depend on how quickly such policies and technologies are adopted in China and India. China’s electricity sector accounts for one-third of global coal demand, according to the IEA, which states a “recovery in hydropower in China combined with significant expansion of wind and solar is expected to slow the growth of coal power generation globally in 2024.”
Environmental concerns are one of the main reasons some market watchers believe coal’s role in the energy mix is set to fade in the coming years and decades. Both mining coal and burning it for energy are problematic, with two of the key issues being pollution and greenhouse gasses.
Many countries have laid out plans to phase out coal in the near to medium term, including Germany (which has the largest fleet of coal-fired plants in Europe), Canada, the UK, Finland, France, Chile, Ireland, Israel, New Zealand, South Africa and Denmark. Belgium has been coal-free since 2016.
During his first term in office, US President Donald Trump sparked hope for a coal industry revival when he pulled the country out of the Paris Agreement, citing his support of the coal sector as one of his reasons for doing so.
Under President Joe Biden, the US rejoined the Paris Agreement. In his first days in office, Biden signed an executive order directing federal agencies to help generate alternative economic activity in regions traditionally dominated by the coal industry, such as Kentucky and West Virginia. The Biden administration also set a lofty goal of using 100 percent renewable energy for electricity generation by 2035. In response, many US utilities began moving towards wind and solar power, as well as natural gas.
With Trump back in office in 2025, the US coal industry may see a reversal of Biden’s directives. Leaders in the industry are hopeful that Trump’s pick for Secretary of Energy, Founder and CEO of Liberty Energy (NYSE:LBRT) Chris Wright, and his pick for Secretary of the Interior, North Dakota Governor Doug Burgum, will revive the country’s coal sector.
Coal industry outlook
The investment outlook for the coal industry is dependent on a myriad of factors, including electricity and industrial demand as well as a shift toward renewable energy sources.
Overall, after a mere 0.4 percent increase in total consumption in 2024, demand for coal is set to decline by 0.3 percent in 2025, according to the IEA.
Whether or not coal is here to stay or is facing its demise depends on jurisdiction.
After four years of steady growth, China’s coal usage has begun to slow on economic woes. For thermal coal consumption in China, the agency is projecting a demand growth rate of 0.9 percent in 2024 — the lowest rate since 2015. For 2025, the IEA is forecasting a 1.1 percent decline in demand from the power sector as the transition to renewables continues.
Metallurgical coal demand in the country is expected to remain flat as the real estate sector continues to falter.
While China may have decreased its coal use in an effort to improve air quality, the Asian powerhouse is still one of the world’s fastest-growing major economies and is likely to remain the world’s top coal consumer for years to come.
India is experiencing the greatest growth in coal demand compared to other regions. The IEA estimates that India’s consumption of thermal coal will have increased by almost 10 percent for 2024, while the country’s metallurgical coal consumption is expected to increase by just over 2 percent.
With India growing its coal-fire plant capacity by more than four times its annual average in the past five years and rising demand for thermal and met coal in industrial applications, the IEA projects the country’s aggregate coal demand to rise by 3.1 percent in 2025.
In the United States, coal usage in 2024 remained on par with the previous year, but the IEA expects it will decline by 2 percent in 2025.
Europe is forecast to continue experiencing the greatest decline in coal consumption, particularly from the power sector as the switch to renewable energy and nuclear power intensifies. The IEA predicts a 19 percent drop in coal demand for the region in 2024 followed by a 3 percent decline in 2025.
Looking more specifically at metallurgical coal as a whole, research firm Technavio is reporting that the market will experience a compound annual growth rate of 4.77 percent between 2023 and 2028. The vast majority of this growth — 85 percent — is expected to come from the Asia-Pacific region, particularly out of China, Australia, Indonesia and India.
How to invest in coal
There are a number of entry points for investing in coal, including thermal and metallurgical coal stocks and coal ETFs. Below, we take a look at each of these routes to investing in coal.
Coal stocks
For those interested in investing in coal stocks, there are a number of publicly traded metallurgical, thermal and coking coal companies to choose from. Learn about options for coal stocks listed on the NASAQ, NYSE, TSXV, ASX and LSE below.
Alliance Resource Partners (NASDAQ:ARLP)
Alliance Resource Partners is the largest coal producer in the Eastern United States. With seven underground coal mining operations in Appalachia and the Illinois Basin, this coal company provides thermal and metallurgical coal products to utility, industrial and steelmaking customers on a global scale.
Alpha Metallurgical Resources (NYSE:AMR)
Alpha Metallurgical Resources is a metallurgical coal company that has 21 coal mines across the United States’ Central Appalachia regions of Virginia and West Virginia. The company produces and exports metallurgical products to the global steel industry, with customers in 25 countries.
Arch Resources (NYSE:ARCH)
Arch Resources and its subsidiaries provide metallurgical coal products for the global steel industry and thermal coal for domestic and international power generation markets. Its operations include four metallurgical coal mines in West Virginia, two thermal coal mines in the Powder River Basin of Wyoming and one thermal coal mine in Colorado.
CONSOL Energy (NYSE:CEIX)
CONSOL Energy is a producer and exporter of high heating value bituminous thermal coal for global markets. It owns the Pennsylvania Mining Complex, located in its namesake state’s Greene and Washington counties, which is the largest underground coal mine complex in North America. The company’s Baltimore Marine terminal is one of the largest coal export terminals on the Eastern Seaboard.
Corsa Coal (TSXV:CSO,OTCQX:CRSXF)
Corsa Coal is a metallurgical coal producer with five mines in the US states of Pennsylvania and Maryland. Corsa sells its metallurgical coal products to both domestic and international steel and coke producers.
Glencore (LSE:GLEN,OTC Pink:GLCNF)
Glencore is one of the world’s largest producers and exporters of thermal and metallurgical coal. The company has numerous met coal and thermal coal operations in Australia, Canada, Colombia and South Africa.
Peabody Energy (NYSE:BTU)
Peabody is a leading producer of thermal and metallurgical coal to domestic and global markets. The company’s United States operations are in the states of Colorado, New Mexico, Illinois, Alabama and Wyoming, specifically in Wyoming’s coal-rich Powder River Basin. It also has extensive seaborne thermal and metallurgical coal operations in the Australian states of Queensland and New South Wales.
NACCO Industries (NYSE:NC)
NACCO Industries is the parent company of four separate business units related to natural resource mining and environmental solutions. The company’s North American Coal business unit operates numerous surface coal mines in the US across the states of Mississippi, Louisiana, Texas and North Dakota.
New Hope Group (ASX:NHC)
New Hope is involved in all stages of the coal industry, from exploration and development to production and processing. The company owns interests in two open-cut thermal coal mines in Queensland and New South Wales. Much of its production is shipped to customers in Asia.
Ramaco Resources (NASDAQ:METC)
Ramaco Resources produces premium metallurgical coal products for customers in North America and internationally in approximately 20 countries. The company has nine met coal mines in the Appalachian states of West Virginia and Virginia.
SunCoke Energy (NYSE:SXV)
SunCoke Energy is the largest independent coke producer in the US by annual output. The coal company operates five metallurgical coke plants across Illinois, Indiana, Ohio and Virginia, as well as one in Brazil. SunCoke’s heat-recovery coke-making technology produces stronger coking coal and converts the heat into steam or electricity.
Warrior Met Coal (NYSE:HCC)
Warrior Met Coal is a major supplier of premium metallurgical coal, also known as hard-coking coal, to the global steel industry, particularly in Europe, South America and Asia. The company has two active underground mines based in Alabama, US.
Whitehaven Coal (ASX:WHC)
Whitehaven Coal is a leading Australian metallurgical and thermal coal producer with six mines in the Gunnedah Coal Basin of New South Wales and Bowen Basin of Queensland. The company exports to economies across East and South East Asia.
Yancoal Australia (ASX:YAL)
Yancoal Australia is Australia’s largest pure-play coal producer and one of the largest coal exporters. With a focus on both metallurgical and thermal coal products, the company operates five mines and manages five other projects across the states of New South Wales, Queensland and Western Australia.
Coal ETFs
For those investors interested in how to invest in Coal ETFs, Range Global and VanEck offer coal investment funds.
Range Global Coal Index ETF (ARCA:COAL)
The Range Global Coal Index ETF offers investors exposure to companies engaged in the metallurgical and thermal coal industry, from exploration and development through to production, transportation and distribution. Its top holdings include Warrior Met Coal, Yancoal Australia and Alpha Metallurgical Resources.
VanEck Vectors Coal ETF (ARCA:KOL)
The VanEck Vectors Coal ETF offers a broader global range of exposure to the coal and energy markets. Its constituents are companies with operations in a wide variety of energy sectors, including coal-focused ones such as coal and consumable fuels, coal products, steel and metallurgical coal mining. Top holdings in KOL include freight rail transport company Aurizon Holdings (ASX:AZJ); Exxaro Resources (OTC Pink:EXXAF,JSE:EXX), one of South Africa’s largest coal producers; and the aforementioned Whitehaven Coal.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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Radiopharm Theranostics (RAD:AU) has announced Radiopharm achieves Nasdaq listing of ADS
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