South Africa to Australia: Why coal profits are surging during Iran war

Crude oil and natural gas supplies have been disrupted worldwide by the United States-Israel war on Iran, but one energy sector appears to be cashing in – coal.This week, South Africa’s thermal coal producer Thungela Resources said it had doubled its half-year profits as the war has forced more countries to buy the fuel.Recommended Stories list of 4 itemslist 1 of 4‘Limited options’ for many Iranians as war with US chokes economylist 2 of 4Large fire breaks out at fuel depot near Iraq’s Sulaimaniyahlist 3 of 4Can China’s new Arctic sea route to Europe replace Middle East chokepoints?list 4 of 4Brazil’s president says Amazon oil is ‘passport to the future’end of listAlthough abundant and relatively cheap to produce, coal is considered one of the dirtiest fossil fuels.Mining it causes water pollution, and burning it releases enormous amounts of carbon into the atmosphere, which contributes to global warming.In recent months, several countries, especially in Asia, have reversed or delayed promises to scale back on coal production.Global coal consumption was already rising in 2025 with the Eurasia region and the US using the fuel to power artificial intelligence data centres, according...