I'm pretty much in line with the other contributors here. The...

I'm pretty much in line with the other contributors here. The lack of social acceptance of coal has created a selling pressure which in turn has pushed the price well below what any other stock might sell for if valuation rules were applied as they are with other stocks outside this industry. So the return is acceptable, particularly when compared with what's available everywhere else.
I also think about the ethical elements around our coal exports. I won't invest in gambling stocks for ethical reasons but I genuinely believe that if we don't provide coal to the emerging nations, others will so I don't find issue with the supply particularly when such nations are not able to afford any other means of energy in the short term. The only thought I can add is that one day (and it's still a fair way away) the music will stop and you need to make sure you're near the exits when the mad race out of here begins or all the benefits we receive in the short term will be lost.