The coal industry is enjoying long-term investments in new coal-fired power generation even as coal mining and production have been declining. Recent conflict in Europe has disrupted energy supplies and reinvigorated coal use. The duration of the retrenchment to coal may be short lived, but the end point of “short lived” remains uncertain. The present state of the coal industry and the investment community that underpins its growth obviates any meaningful acceleration in coal's phaseout as a core fuel resource. However, coal can be recast as a catalyst for achieving clean energy and economy futures. This can be done by seeing coal hydrocarbon deposits and byproducts of coal processing as long-term multi-asset resource platforms (MARPS), which integrate multiple new revenue streams on coal lands other than just mining coal as a fuel. New value comes from repurposing and leveraging mining lands, harvesting minor and trace elements from coal, and creating new revenue from harvesting hydrogen and carbon materials from coal bed methane, raw coal, coal tailings, and fly ash residues. We make the case that Coal Mining Enterprise (CME) value can be enhanced by ending the use of coal-as-fuel and creating new value streams serving existing and emerging markets by fully assessing, evaluating, and utilizing the portfolio of natural resources that are collocated within a typical coalfield. Coal sector investors tend not to see undervaluation in coal assets because CMEs focus predominantly on mining, processing, and shipping coal-as-fuel for electricity production and industrial processes. Formulating and asking the correct questions about how much value is being left on the table may bring innovation into a new frontier of coal as multi-asset resource platforms. Co-benefits of the approach include job creation across many viable emerging markets where “refining” coal is a competitive source of factor inputs. Moreover, it aids governments in aggressive support of coal industry transformations, through which lasting coal transition justice can be achieved. Ironically, despite all the technological and market uncertainties, coal in the 21st century can be, and should be, a critical success factor in achieving clean energy and economy futures.
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