RWE has one of the largest renewable-energy portfolios among European utilities, but it still generates about a quarter of its power from lignite plants.

Other steelmaking ingredients on the Dalian bourse also jumped.

The money represents a portion of the $11.3 billion allocated to mine reclamation in the infrastructure law that Congress passed last year.

"We’re out of everything – I don’t care if it’s oil, gas, coal, copper, aluminum, you name it we’re out of it,” says Jeff Currie.

France is temporarily allowing electricity producers to burn more coal after the nation’s grid operator warned of possible power shortages.

The pledge by some developed countries to provide $8.5 billion to help South Africa move away from coal is nowhere near the trillions needed to avoid the worst effects of climate change.

The leaders of both countries agreed a deal on Thursday to end a long-running dispute over expansion at the lignite mine.