Has coal hit rock bottom?

The coal price has slumped but coal miner share prices are higher. It’s either wishful thinking by investors, or the first tentative signs of a coal recovery.

If the Australian coal industry is in terminal decline, why have two coal-mining companies been among the best-performing stocks on the ASX in the first three weeks of the new financial year?

Whitehaven Coal, since July 1, has risen by 18.8% from $1.43 to $1.70. New Hope Corporation is up by 12.7%, from $2.68 to $3.02.


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