ECO-CAMPAIGNERS

have something to smile about. After a stonking rally in 2022, coal stocks in London have tanked so far this year. MC Mining has more than halved in value and Thungela Resources – spun off from Anglo American last year – is down by almost a third. Prices of thermal coal are at their lowest since January 2022. Drax and EDF have ruled out keeping their back-up coal plants on next winter, so it looks like Britain won’t be boosting King Coal any more either.