Business
Coal Stocks On The Rise As Demand For Steel Soars In 2024
(NewsDirect) Although there has been a global push towards cleaner energy sources, coal still...
About this update from Colonial Coal International Corp.
[{"type":"text","content":"Coal Stocks On The Rise As Demand For Steel Soars In 2024\n \n \n (NewsDirect)\n \n \n Although there has\nbeen a global push towards cleaner energy sources, coal still remains\na vital part of our energy mix. In fact, a recent report by the\nInternational Energy Agency found that global coal demand hit an\nall-time high in 2022 amid the energy crisis, far outpacing the\nprevious record set in 2013. According to the U.S. Department of\nEnergy, coal accounted for about 20% of the country's electricity\nproduction as of October of last year, highlighting the\ncommodity's significance in maintaining grid stability.\n \n \n Despite the fact that\nthe coal industry has grappled with major headwinds like a string of\ncoal companies going bankrupt, the broader coal industry had an\nimpressive year in 2023, with coal stocks collectively gaining about\n40% in the year, further reaffirming the resilience of the commodity.\nThat was thanks to a renewed focus on metallurgical coal, which\nexperts agree will continue to experience robust demand going forward,\ndriven by an increase in the demand for steel. For investors looking\nfor a way to play this demand, here are some coal stocks that could\noffer exposure to the sector.\n \n \n \n Benjamin Hill Mining Corp. (OTCQB: BNNHF)\n(CSE:BNN),\n \n which is currently focused on its Alotta Exploration\nProject and Aion Mining Corp.’s Coal Project, has been making\nsignificant inroads in its exploration activities.\n \n \n Hosted in the Canadian\nYukon, the Alotta project, which is BNN’s flagship project,\ninitiated a diamond drilling program in November last year. Leveraging\nintricate IP data showing anomalous copper and gold in soil, in\naddition to compelling geophysical anomalies, the drill program\nstrategically targeted the central area of a substantial chargeability\nanomaly spanning over 2 kilometers at the project.\n \n \n The company selected\nArcher Cathro and Associates as the consulting firm to provide\nlogistical, permitting, and drilling services based on the fact that\nit has been one of the most prolific explorers in the Yukon for the\npast five decades and has been responsible for discovering and\nadvancing a wide variety of deposits.\n \n \n The findings of the program didn't\ndisappoint, as the results revealed a large, multiphase porphyry\nsystem at the south-ce...