Coal group urges Trump administration to provide financing help

A coal council that advises the Trump administration urged the Department ​of Energy on Tuesday to provide financial support, including loan ‌guarantees and grants to help existing coal plants and get new ones built, Reuters reported Tuesday.

In a report sent to the DoE, the National Coal Council made 19 recommendations to the administration, including financial support for additional export terminals on the West Coast to access Asian markets.

The group also recommended that the U.S. government enter power purchase agreements and make investments in ​coal infrastructure, and called for removing regulatory, financial,​ and other barriers ​to constructing new ⁠plants.

President Trump, an advocate of coal power, reinstated the National Coal Council ​last year after it lapsed during the Biden administration; the group's membership includes executives from coal companies Peabody ⁠Energy (BTU), Warrior Met Coal (HCC), and Core Natural Resources (CNR).

Other potentially relevant stocks include Alpha Metallurgical Resources (AMR), Alliance Resource Partners (ARLP), and Ramaco Resources (METC).