UN chief urges wealthy nations to phase out coal use by 2030

Once the engine of the Industrial Revolution rooted in the UK, coal is now less popular than ever as an electricity source.

Chinese coal imports from key supplier Australia chalked up year-on-year gains for the second straight month in July, customs data showed, as local output of the commodity eased amid a crackdown on illegal mining and pollution.

Prices for the steelmaking material have increased almost 50% since its 2017 lows.

According to the Industrial Development Agency (ARP), net profit at Polish coal mines stood at 1.45 billion zlotys (US$400.06 million) in the first half of the year compared to a 800 million zlotys loss a year earlier.

After posting a fourfold rise in profits, world's number one mining company now "actively pursuing options to exit" its US oil and gas business bought for $20B six years ago.

Measure is part of a broader plan to restore profitability at the division, which saw adjusted operating profit fell by 37% in the second quarter of this year.

While Trump vows to save coal, many miners look elsewhere. Natural gas jobs don’t offer the same stability as coal did.

The move comes only five months after President Donald Trump signed an executive order undoing the previous Administration’s Clean Power Plan.

Value added brought by the mining sector grew by more than 21% in the first three months of the year — the largest increase since the fourth quarter of 2014.