Published on 18 Mar 2023 on Insider Monkey via Yahoo Finance
11 Best Coal Mining Stocks To Buy Today
In this article, we discuss 11 best coal mining stocks to buy today. If you want to see more stocks in this selection, check out 5 Best Coal Mining Stocks To Buy Today.
Coal occupies a central position in discussions related to climate change and energy because it is the most significant source of energy worldwide for producing electricity, iron, and steel, and cement. Additionally, it is the largest emitter of carbon dioxide among all energy sources. Despite the existence of climate and energy targets, the ongoing energy crisis has compelled several nations to boost their dependence on coal.
On March 14, Fitch Ratings slashed its 2023 price assumption for Australian thermal coal. The recent revision in their metallurgical coal price projections is based on a combination of factors. Firstly, there is a boost in demand as China has lifted its ban on imports from Australia. Secondly, production costs in the sector have increased by approximately 25% in 2022 due to inflation in fuel, energy, and labor costs, along with the new royalty regime in Queensland. Lastly, there is significant supply volatility from Australia which also affects the price projections.