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Top 79 largest Companies in the Thermal Coal industry in the World by Market Cap

This is the list of the largest public listed companies in the Thermal Coal industry in the world by market capitalization with links to their reference stock.

World Thermal Coal Industry Analysis
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Top Thermal Coal Companies in the World as of Jul. 01, 2025

Rank Company Market Cap (USD) Country Sector Industry
31 Shanxi Lanhua Sci-Tech Venture Co.,Ltd $1.35 B China Chinese Energy Chinese Thermal Coal
32 Henan Dayou Energy Co. Ltd $1.31 B China Chinese Energy Chinese Thermal Coal
33 Banpu Public Company Ltd $1.29 B Thailand Thai Energy Thai Thermal Coal
34 Natural Resource Partners L.P. $1.28 B United States US Energy US Thermal Coal
35 Shanghai Datun Energy Resources Co. Ltd $1.19 B China Chinese Energy Chinese Thermal Coal
36 Anhui Hengyuan Coal-Electricity Group Co. Ltd $1.12 B China Chinese Energy Chinese Thermal Coal
37 Hallador Energy Company $696.2 M United States US Energy US Thermal Coal
38 Thungela Resources Ltd $672.7 M South Africa South African Energy South African Thermal Coal
39 Zhengzhou Coal Industry & Electric Power Co. Ltd $670.1 M China Chinese Energy Chinese Thermal Coal
40 PT Harum Energy Tbk $663.3 M Indonesia Indonesian Energy Indonesian Thermal Coal
41 PT Baramulti Suksessarana Tbk $632.3 M Indonesia Indonesian Energy Indonesian Thermal Coal
42 PT ABM Investama Tbk $503.7 M Indonesia Indonesian Energy Indonesian Thermal Coal
43 PT Darma Henwa Tbk $457.7 M Indonesia Indonesian Energy Indonesian Thermal Coal
44 PT. Indika Energy Tbk $427.7 M Indonesia Indonesian Energy Indonesian Thermal Coal
45 Southern Kuzbass Coal company Public joint-stock company $426.9 M Russia Russian Energy Russian Thermal Coal
46 PT TBS Energi Utama Tbk $418.5 M Indonesia Indonesian Energy Indonesian Thermal Coal
47 Mitsui Matsushima Holdings Co. Ltd $409.8 M Japan Japanese Energy Japanese Thermal Coal
48 Geo Energy Resources Ltd $372.6 M Singapore Singaporean Energy Singaporean Thermal Coal
49 Golden Energy and Resources Ltd $355.1 M

(July 1, 2023)

 Singapore Singaporean Energy Singaporean Thermal Coal
50 Qinghai Spring Medicinal Resources Technology Co. Ltd $352.4 M China Chinese Energy Chinese Thermal Coal
51 E-Commodities Holdings Ltd $323.1 M China Chinese Energy Chinese Thermal Coal
52 PT Sumber Global Energy Tbk $321.8 M Indonesia Indonesian Energy Indonesian Thermal Coal
53 NACCO Industries, Inc. $315.7 M United States US Energy US Thermal Coal
54 Lanna Resources Public Company Ltd $254.3 M Thailand Thai Energy Thai Thermal Coal
55 Sumiseki Holdings,Inc. $250.2 M Japan Japanese Energy Japanese Thermal Coal
56 Lubelski Wegiel Bogdanka SA $244.4 M Poland Polish Energy Polish Thermal Coal
57 PT Samindo Resources Tbk $237.9 M Indonesia Indonesian Energy Indonesian Thermal Coal
58 Belon Joint Stock Company $210.0 M Russia Russian Energy Russian Thermal Coal
59 HMS Bergbau AG $207.1 M Germany German Energy German Thermal Coal
60 PT Golden Eagle Energy Tbk $178.9 M Indonesia Indonesian Energy Indonesian Thermal Coal

Top Thermal Coal Companies in the World as of Jul. 01, 2025

31. Shanxi Lanhua Sci-Tech Venture Co.,Ltd

Company Profile: Shanxi Lanhua Sci-Tech Venture Co.,Ltd
Market Cap (USD): $1.35 B
Country: China
Sector: Chinese Energy
Industry: Chinese Thermal Coal

32. Henan Dayou Energy Co. Ltd

Company Profile: Henan Dayou Energy Co. Ltd
Market Cap (USD): $1.31 B
Country: China
Sector: Chinese Energy
Industry: Chinese Thermal Coal

33. Banpu Public Company Ltd

Company Profile: Banpu Public Company Ltd
Market Cap (USD): $1.29 B
Country: Thailand
Sector: Thai Energy
Industry: Thai Thermal Coal

34. Natural Resource Partners L.P.

Company Profile: Natural Resource Partners L.P.
Market Cap (USD): $1.28 B
Country: United States
Sector: US Energy
Industry: US Thermal Coal

35. Shanghai Datun Energy Resources Co. Ltd

Company Profile: Shanghai Datun Energy Resources Co. Ltd
Market Cap (USD): $1.19 B
Country: China
Sector: Chinese Energy
Industry: Chinese Thermal Coal

36. Anhui Hengyuan Coal-Electricity Group Co. Ltd

Company Profile: Anhui Hengyuan Coal-Electricity Group Co. Ltd
Market Cap (USD): $1.12 B
Country: China
Sector: Chinese Energy
Industry: Chinese Thermal Coal

37. Hallador Energy Company

Company Profile: Hallador Energy Company
Market Cap (USD): $696.2 M
Country: United States
Sector: US Energy
Industry: US Thermal Coal

38. Thungela Resources Ltd

Company Profile: Thungela Resources Ltd
Market Cap (USD): $672.7 M
Country: South Africa
Sector: South African Energy
Industry: South African Thermal Coal

39. Zhengzhou Coal Industry & Electric Power Co. Ltd

Company Profile: Zhengzhou Coal Industry & Electric Power Co. Ltd
Market Cap (USD): $670.1 M
Country: China
Sector: Chinese Energy
Industry: Chinese Thermal Coal

40. PT Harum Energy Tbk

Company Profile: PT Harum Energy Tbk
Market Cap (USD): $663.3 M
Country: Indonesia
Sector: Indonesian Energy
Industry: Indonesian Thermal Coal

41. PT Baramulti Suksessarana Tbk

Company Profile: PT Baramulti Suksessarana Tbk
Market Cap (USD): $632.3 M
Country: Indonesia
Sector: Indonesian Energy
Industry: Indonesian Thermal Coal

42. PT ABM Investama Tbk

Company Profile: PT ABM Investama Tbk
Market Cap (USD): $503.7 M
Country: Indonesia
Sector: Indonesian Energy
Industry: Indonesian Thermal Coal

43. PT Darma Henwa Tbk

Company Profile: PT Darma Henwa Tbk
Market Cap (USD): $457.7 M
Country: Indonesia
Sector: Indonesian Energy
Industry: Indonesian Thermal Coal

44. PT. Indika Energy Tbk

Company Profile: PT. Indika Energy Tbk
Market Cap (USD): $427.7 M
Country: Indonesia
Sector: Indonesian Energy
Industry: Indonesian Thermal Coal

45. Southern Kuzbass Coal company Public joint-stock company

Company Profile: Southern Kuzbass Coal company Public joint-stock company
Market Cap (USD): $426.9 M
Country: Russia
Sector: Russian Energy
Industry: Russian Thermal Coal

46. PT TBS Energi Utama Tbk

Company Profile: PT TBS Energi Utama Tbk
Market Cap (USD): $418.5 M
Country: Indonesia
Sector: Indonesian Energy
Industry: Indonesian Thermal Coal

47. Mitsui Matsushima Holdings Co. Ltd

Company Profile: Mitsui Matsushima Holdings Co. Ltd
Market Cap (USD): $409.8 M
Country: Japan
Sector: Japanese Energy
Industry: Japanese Thermal Coal

48. Geo Energy Resources Ltd

Company Profile: Geo Energy Resources Ltd
Market Cap (USD): $372.6 M
Country: Singapore
Sector: Singaporean Energy
Industry: Singaporean Thermal Coal

49. Golden Energy and Resources Ltd

Company Profile: Golden Energy and Resources Ltd
Market Cap (USD): $355.1 M (July 1, 2023)
Country: Singapore
Sector: Singaporean Energy
Industry: Singaporean Thermal Coal

50. Qinghai Spring Medicinal Resources Technology Co. Ltd

Company Profile: Qinghai Spring Medicinal Resources Technology Co. Ltd
Market Cap (USD): $352.4 M
Country: China
Sector: Chinese Energy
Industry: Chinese Thermal Coal

51. E-Commodities Holdings Ltd

Company Profile: E-Commodities Holdings Ltd
Market Cap (USD): $323.1 M
Country: China
Sector: Chinese Energy
Industry: Chinese Thermal Coal

52. PT Sumber Global Energy Tbk

Company Profile: PT Sumber Global Energy Tbk
Market Cap (USD): $321.8 M
Country: Indonesia
Sector: Indonesian Energy
Industry: Indonesian Thermal Coal

53. NACCO Industries, Inc.

Company Profile: NACCO Industries, Inc.
Market Cap (USD): $315.7 M
Country: United States
Sector: US Energy
Industry: US Thermal Coal

54. Lanna Resources Public Company Ltd

Company Profile: Lanna Resources Public Company Ltd
Market Cap (USD): $254.3 M
Country: Thailand
Sector: Thai Energy
Industry: Thai Thermal Coal

55. Sumiseki Holdings,Inc.

Company Profile: Sumiseki Holdings,Inc.
Market Cap (USD): $250.2 M
Country: Japan
Sector: Japanese Energy
Industry: Japanese Thermal Coal

56. Lubelski Wegiel Bogdanka SA

Company Profile: Lubelski Wegiel Bogdanka SA
Market Cap (USD): $244.4 M
Country: Poland
Sector: Polish Energy
Industry: Polish Thermal Coal

57. PT Samindo Resources Tbk

Company Profile: PT Samindo Resources Tbk
Market Cap (USD): $237.9 M
Country: Indonesia
Sector: Indonesian Energy
Industry: Indonesian Thermal Coal

58. Belon Joint Stock Company

Company Profile: Belon Joint Stock Company
Market Cap (USD): $210.0 M
Country: Russia
Sector: Russian Energy
Industry: Russian Thermal Coal

59. HMS Bergbau AG

Company Profile: HMS Bergbau AG
Market Cap (USD): $207.1 M
Country: Germany
Sector: German Energy
Industry: German Thermal Coal

60. PT Golden Eagle Energy Tbk

Company Profile: PT Golden Eagle Energy Tbk
Market Cap (USD): $178.9 M
Country: Indonesia
Sector: Indonesian Energy
Industry: Indonesian Thermal Coal

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