The Thermal Coal industry is a significant segment of the global energy sector, primarily focused on the mining, processing, and distribution of thermal coal, also known as steam coal. Thermal coal is a type of coal primarily used for electricity generation in coal-fired power plants due to its high energy content and relatively low cost compared to other energy sources.

Key activities in the Thermal Coal industry include:

1. Exploration: Identifying and assessing coal deposits through geological surveys and other methods to determine their size, quality, and economic feasibility.
2. Mining: Extracting thermal coal from underground or surface mines using various techniques, including underground mining, open-pit mining, and mountaintop removal.
3. Processing: Cleaning and preparing coal for transportation and sale by removing impurities, such as rock, ash, and sulfur, to enhance its energy content and reduce emissions when burned.
4. Transportation & Distribution: Moving thermal coal from mines to power plants or export terminals via rail, truck, barge, or ship, and selling it to domestic and international customers, primarily utilities and industrial consumers.

• Peabody Energy Corporation
• Alliance Resource Partners, L.P.
• CONSOL Energy Inc.
• Natural Resource Partners L.P.