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5 Top ASX Listed Coal Penny Stocks Under the Spotlight

With coal prices climbing to their highest level in close to a decade, now is a perfect opportunity to invest in coal penny stocks.

In 2021 we have seen a significant spike in coal prices due to current supply disruption in South Africa and Russia, leading to a crunch in the market. Furthermore, increasing hostilities in trade negotiations between Australia and China has impacted domestic coal prices.

Despite the high prices and the global push to decarbonise the economy, there is still a strong demand for coal, thanks to mass-energy consumers like China and India.

The combination of high prices and demand make coal stocks one of the hottest penny stocks on the market

Here are the top 5 ASX listed players.

listed coal penny stocks
“Copyright: Unsplash by Annie Spratt”

Allegiance Coal
Allegiance Coal (ASX: AHQ) is an Australian metallurgical coal mining company. The company is a hot coal stock to watch because its mining projects are based in areas with low political risk. Project locations include southeast Colorado and British Columbia. 

Allegiance coal recently reopened their New Elk projects following a temporary pause in mining due to COVID-19. The recommencement on the project has consequently increased its market cap to $204 million. 

Bowen Coking Coal
Bowen Coking Coal (ASX: BCB) is another Australian company based in Queensland’s Bowen Basin. The mining company has an impressive portfolio of coal mining projects, owning the Isaac River, Broadmeadow East, Hillalong, Cooroorah and Comet Ridge.

A recent deal with Fitzroy has allowed the company to gain early infrastructure access. The deal will enable it to commence the initial exports of coal while Burton's mining approvals are in process. 

As a result, Bowen Coking Coal has experienced a significant increase in its market cap, currently sitting at $188 million. 

Tigers Realm Coal 
Tigers Realm Coal (ASX: TIG) is a coal exploration company currently engaged in two large-scale coking coal projects in Russia’s Bering Coal Basin. The basin stretches across 7,500km2 and offers investors promising returns on their coal exploration projects. 

The company recently sold 169 kilotons of coal, boosting its market cap to $209 million. 

NuCoal Resources 
NuCoal Resources (ASX: NCR) is based in New South Wales and is currently engaged in mining and exploration projects around the Bayswater Power Station region.

The company recently received a $54,000AUD injection after finalising a deal for the final portion of the Hunter River General Security Water Licence. The exploration project near Bayswater Power Station has uncovered promising prospects for coal, leading to steady growth over the year. 

See this ASX mining companies list to stay updated on promising growth for the company.

Australian Pacific Coal
Australian Pacific Coal (ASX: AQC) is concerned with thermal and metallurgical coal prospects. The company’s Dartbrook Coal Mine project recently extended its operations for five years, following an agreement with the Minister for Planning and Public Spaces. 

The agreement offers investors promising returns for the future, currently sitting at a $9 million market cap. 

If you are looking to diversify your natural resources portfolio further, check out our tips on the best lithium mining stocks.