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Since the beginning of industrialization in the 19th century, coal has had a significant impact on the world's energy supply. To this day, coal remains one of the main energy sources among all non-renewable resources. The use of hard coal, the most important type of coal, has increased even slightly in recent years. Coal also has the largest reserves of all non-renewable energy sources. Global coal production has continued to increase in recent years, reaching the equivalent of nearly 168 exajoules in 2019. In 2020, global coal production will decline slightly to 159.6 exajoules. The top hard coal producing countries are China, India, the United States, Australia and Indonesia.

Driven by a strong demand expectation, Newcastle coal futures recently traded above $145 per tonne, close to the 8-month high of $150 set on August 15. This happens at the same time that China's energy landscape is changing, with approvals for new coal capacity falling by almost 80% in 2024 compared to the year before, suggesting a possible shift toward renewable energy. Nonetheless, coal continues to be the primary energy source. In July 2024, it generated 65% of the total power generated, and that month saw record highs in coal production, highlighting our continued reliance on coal. Global demand for coal is still high. Despite the growth of renewable energy, the International Energy Agency projects constant global coal consumption. Notably, China’s seaborne coal imports rose by 11% year-on-year in the first half of 2024, while Russian seaborne coal exports fell by 13%, reflecting a tightening coal supply in the market.

Global coal production: 167.58EJ. Ambitious economic giants China and India continue to account for the majority of global coal consumption. About 60% of China's rapidly growing energy consumption is supported by coal. Although U.S. coal consumption has shown a slight decline over the past ten years, some projections show significant increases through the end of 2030.