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Although there has been a global push towards cleaner energy sources, coal still remains a vital part of our energy mix. In fact, a recent report by the
Despite the fact that the coal industry has grappled with major headwinds like a string of coal companies going bankrupt, the broader coal industry had an impressive year in 2023, with coal stocks collectively gaining about 40% in the year, further reaffirming the resilience of the commodity. That was thanks to a renewed focus on metallurgical coal, which experts agree will continue to experience robust demand going forward, driven by an increase in the demand for steel. For investors looking for a way to play this demand, here are some coal stocks that could offer exposure to the sector.
Benjamin Hill Mining Corp. (OTCQB: BNNHF) (CSE:BNN), which is currently focused on its
Hosted in the Canadian Yukon, the Alotta project, which is BNN’s flagship project, initiated a diamond drilling program in November last year. Leveraging intricate IP data showing anomalous copper and gold in soil, in addition to compelling geophysical anomalies, the drill program strategically targeted the central area of a substantial chargeability anomaly spanning over 2 kilometers at the project.
The company selected
The findings of the program didn't disappoint, as the results revealed a large, multiphase porphyry system at the south-central portion of the induced polarization chargeability. According to the core samples, the project showed mineralization rich in pyrrhotite, pyrite, chalcopyrite, and molybdenite, which reaffirmed Alotta’s significant resource potential.
Following the success of the diamond drill program at Alotta, Benjamin Hill Mining Corp. (OTCQB:BNNHF) (CSE:BNN)made the strategic decision to double down on its coal investments. The company announced that it had signed a non-binding letter of intent with
Earlier this month, BNN provided a corporate update regarding the project, which revealed a number of interesting facts. Both historical and recent drilling programs revealed that the FLG-111 concession has eight known seams of metallurgical and thermal coal. CEO
With permits already granted to Aion for the extraction of up to 180,000 tons of coal per year, the project is set to advance rapidly. Right now, the focus is on quickly developing the infrastructure following the acquisition of an additional 24-hectares of land to provide surface access rights and, at the same time, the mobilization of large equipment for advanced site preparation and surface works.
Thanks to taking the stake in Aion, Benjamin Hill Mining Corp. (OTCQB:BNNHF) (CSE:BNN)is positioning itself to become one of the key players in the resurging global coal market, a move that could ultimately unlock significant shareholder value in the future.
The company is America's largest producer of coking coal, producing about 20% of total 2022 production. In FY2022, Alpha Metallurgical produced 16.1 million tons of coal and had over 300 million tons of reserves. Roughly 70% of the company’s coal output is exported, which ties in well with the fact that it owns 65% of the DTA (
AMR recently reported its third-quarter earnings, which had a number of interesting highlights. Although the company reported an adjusted EBITDA of
Looking ahead to 2024, the company provided guidance, anticipating shipping between 15.5 and 16.5 million tons of metallurgical coal.
Warrior recently reported third quarter earnings, revealing it had sold approximately 2.3 million short tons of metallurgical coal, a significant year-over-year increase on the backdrop of better rail and terminal availability. This brought in about
The company’s balance sheet remained robust as it generated
The company revised its capex guidance upwards to $820–830 million to include the development of Blue Creek’s longwall section in order to boost the production rate to 9.6 million short tons per year, which should be reached by the end of 2026.
The re-election of
David Austin ,Ian Downie ,Anthony Hammond ,John Perry ,Gregory Waller , andPartha S. Bhattacharyya as directors of the corporation for the year 2024.PricewaterhouseCoopers LLP , Chartered Professional Accountants, were re-appointed as the company’s auditor following board approval, and the directors were authorized to set the auditor’s compensation.Shareholders approved the continuation of the corporation’s current share option plan.
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