Coal Profits Surge as Iran War Drives Energy Shift
· World · Al Jazeera, Reuters, The Guardian
Thungela Resources, a South African thermal coal miner, doubled its half‑year profit after the US-Israel war on Iran pushed energy shortages. The conflict forced countries, especially in Asia, to shift from oil and gas when Iran closed the Strait of Hormuz following February strikes on Tehran. With roughly one‑fifth of global oil and LNG passing through the strait, its closure cut supplies, spiked oil prices, and pushed nations to use coal—cheaper and more readily available. Asia accounts for 82% of those shipments, with China, India, Japan and South Korea as top recipients. Gulf states, hit by Iranian strikes, saw 17% of Qatar’s LNG exports knocked out by March, further tightening supply chains.
Why it matters
Coal firms worldwide grow revenues, while Asian energy buyers—including India—must rely more on coal, affecting their fuel mix and costs.
Read the original report — Al Jazeera
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