In this article, we will be navigating through the 25 countries with the largest coal reserves in the world. If you wish to skip our detailed analysis, you can move directly to the 5 Countries with the Largest Coal Reserves in the World.
Global Coal Industry: An Overview
As reported by the International Energy Agency, coal consumption remained high in 2022. While coal demand was minimal in the European Union due to the expanded use of renewable energy sources such as nuclear and hydropower, Asian economies saw strong growth in coal use for both power generation and industrial applications. You can also read about the countries advanced in renewable energy.
Following the Russian invasion of Ukraine, the coal market has been returning to more stable conditions. Regional trends from 2022 continued in 2023. In the first half of 2023, coal demand fell by 24% in the US and by 16% in the EU. During the same period, demand in China and India grew by more than 5%. On January 18, Reuters reported that in 2023, electricity generation from coal around the world reached a record high. Simultaneously, thermal coal exports exceeded 1 billion metric tons during the year for the first time. Through October 2023, coal-fired electricity generation was recorded at 8,295 terawatt hours which surpassed the 2022 levels.
Region-wise, Asia still dominates the use of coal in power generation and exports while many European and North American regions have limited the use of coal. Approximately 82% of the global coal-fired electricity generation took place in Asia during 2023. Despite the limits imposed worldwide, coal exports and its consumption in power plants have been on the rise. In 2023, Indonesia ranked as the top thermal coal exporter nation, accounting for more than half of the total thermal coal shipments in the year. Australia, Russia, and South Africa were also among the prominent exporters. On the other hand, major coal-importing nations included China, India, Japan, and South Korea.
Companies Involved in Coal Mining
Alpha Metallurgical Resources, Inc. (NYSE:AMR), Alliance Resource Partners, L.P. (NASDAQ:ARLP), and CONSOL Energy Inc. (NYSE:CEIX) are some of the companies involved in coal mining. Let’s take a look at what these firms have been up to.
Alpha Metallurgical Resources, Inc. (NYSE:AMR) is a coal mining company that operates underground and surface mining complexes across Central Appalachia. On February 26, the company reported strong earnings for the fiscal fourth quarter of 2023. Alpha Metallurgical Resources, Inc. (NYSE:AMR) reported earnings per share of $12.88, beating EPS estimate by $3.81. The company’s revenue for the quarter amounted to $957.13 million, up 16.56% year-over-year and ahead of revenue consensus by $160.48 million.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) serves as the largest coal producer in the Eastern US and shipped 34.4 million tons of coal in 2023. On January 16, the company reported that its wholly-owned subsidiary Matrix Design Group, LLC signed an agreement with Infinitum. Under this partnership, Infinitum’s motor technology will be incorporated into the mining equipment of Alliance Resource Partners, L.P.’s (NASDAQ:ARLP) operating subsidiaries. This motor technology from Infinitum tends to be lighter and smaller as compared to traditional, heavy iron-core motors. This agreement will deliver efficient and higher-performing production equipment for the mining industry.
CONSOL Energy Inc. (NYSE:CEIX) initiated its first active mining operations in 1864. The company operates the Pennsylvania Mining Complex, the Baltimore Marine Terminal, and claims to control more than 1 billion tons of undeveloped reserves. On February 6, CONSOL Energy Inc. (NYSE:CEIX) reported its financial results for the fourth quarter of 2023. The company reported earnings per share of $5.05 for the quarter. Revenue for the three months ended December 31, 2023, was recorded at $649.44 million which surpassed the revenue consensus by $40.54 million.
Now that we have reviewed the global coal market, let’s move to the 25 countries with the largest coal reserves in the world.
25 Countries with the Largest Coal Reserves in the World
Our Methodology:
In order to compile a list of 25 countries with the largest coal reserves in the world, we sourced data from the Energy Institute. The total proved coal reserves in the countries have been selected as our metric. The most recent statistics have been cited from 2020. We have also mentioned the latest total coal production in the respective countries from 2022. The countries have been ranked in ascending order of their total proved coal reserves.
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25 Countries with the Largest Coal Reserves in the World
25. Uzbekistan
Total Proved Reserves: 1,375 Million Tonnes
Uzbekistan ranks among countries with the largest coal reserves in the world. As reported by the Energy Institute, the country held total proven coal reserves amounting to 1,375 million tonnes in 2020. Furthermore, Uzbekistan produced 5.4 million tonnes of coal in 2022.
24. Bulgaria
Total Proved Reserves: 2,366 Million Tonnes
Bulgaria is another country with large coal reserves. In 2020, the country had 2,366 million tonnes of proven coal reserves. Coal production in the country was recorded at 35.6 million tonnes in 2022.
23. Mongolia
Total Proved Reserves: 2,520 Million Tonnes
Coal production in Mongolia was reported to be 39.3 million tonnes in 2022. The country held 2,520 million tonnes of proven coal reserves as recorded in 2020.
22. Greece
Total Proved Reserves: 2,876 Million Tonnes
Total proven coal reserves in Greece were recorded at 2,876 million tonnes in 2020. Greece ranks among the countries with the most coal reserves in the world.
21. Hungary
Total Proved Reserves: 2,909 Million Tonnes
Hungary ranks as another country with large abundant reserves. As reported by the Energy Institute, the country had 2,909 million tonnes of proven coal reserves in 2020.
20. Pakistan
Total Proved Reserves: 3,064 Million Tonnes
As recorded in 2020, Pakistan held proven coal reserves amounting to 3,064 million tonnes. In 2022, the country produced 9.9 million tonnes of coal.
19. Vietnam
Total Proved Reserves: 3,360 Million Tonnes
Vietnam produced 49.8 million tonnes of coal in 2022. The total proven coal reserves in Vietnam were recorded at 3,360 million tonnes in 2020.
18. Czech Republic
Total Proved Reserves: 3,595 Million Tonnes
In 2020, total proven coal reserves in the Czech Republic stood at 3,595 million tonnes. Hence, the Czech Republic ranks as one of the countries with the most coal reserves in the world.
17. Colombia
Total Proved Reserves: 4,554 Million Tonnes
The 25 countries with the largest coal reserves in the world include Colombia. In 2020, the country held 4,554 million tonnes of proven coal reserves. Coal production in Colombia was last reported to be 57.5 million tonnes in 2022.
16. Canada
Total Proved Reserves: 6,582 Million Tonnes
Canada is another country with a high share of coal reserves in the world. The country held 6,582 million tonnes of proven coal reserves in 2020. Furthermore, Canada produced 45.1 million tonnes of coal in 2022.
15. Brazil
Total Proved Reserves: 6,596 Million Tonnes
Brazil has one of the largest coal reserves in the world. In 2020, the country held total proven coal reserves that amounted to 6,596 million tonnes.
14. Serbia
Total Proved Reserves: 7,514 Million Tonnes
In 2020, Serbia had 7,514 million tonnes of proven coal reserves. The country’s coal production was last recorded at 35.1 million tonnes in 2022.
13. New Zealand
Total Proved Reserves: 7,575 Million Tonnes
In 2022, New Zealand produced 2.6 million tonnes of coal. The country has one of the largest coal reserves globally. Total proven coal reserves in New Zealand were recorded at 7,575 million tonnes in 2020.
12. South Africa
Total Proved Reserves: 9,893 Million Tonnes
South Africa is another country with large coal reserves in the world. In 2020, the country held 9,893 million tonnes of proven coal reserves. Coal production in South Africa was recorded at 225.9 million tonnes in 2022.
11. Turkey
Total Proved Reserves: 11,525 Million Tonnes
As recorded in 2020, Turkey held 11,525 million tonnes of proven coal reserves and has one of the largest coal reserves globally. In 2022, the country produced 96.1 million tonnes of coal.
10. Kazakhstan
Total Proved Reserves: 25,605 Million Tonnes
In 2022, coal production in Kazakhstan was recorded at 118.0 million tonnes. The country held 25,605 million tonnes of proven coal reserves in 2020 and ranks among the countries with the largest coal reserves in the world.
9. Poland
Total Proved Reserves: 28,395 Million Tonnes
Poland produced 107.5 million tonnes of coal in 2022. As recorded last in 2020, the country holds one of the largest coal reserves globally, amounting to 28,395 million tonnes.
8. Ukraine
Total Proved Reserves: 34,375 Million Tonnes
Ukraine ranks as another country with the largest coal reserves in the world. In 2020, the country had 34,375 million tonnes of proven coal reserves. This equated to 3.2% of the global coal reserves.
7. Indonesia
Total Proved Reserves: 34,869 Million Tonnes
In 2020, Indonesia had 34,869 million tonnes of proven coal reserves. Coal production in the country was recorded at 687.4 million tonnes in 2022.
6. Germany
Total Proved Reserves: 35,900 Million Tonnes
Germany produced 132.5 million tonnes of coal in 2022. The country also holds one of the biggest coal reserves globally. In 2020, proven coal reserves in Germany amounted to 35,900 million tonnes.
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Disclosure: None. 25 Countries with the Largest Coal Reserves in the World is originally published on Insider Monkey.