The latest IEA report on global coal was interesting. They forecast coal consumption to decline by 1% annually out to 2040. So by 2040 global consumption will be 20% less than today. But the drop in consumption will be borne by higher cost and lower quality producers and exploration and development of new deposits will decline faster than consumption, making existing low cost/high quality mines more valuable. NHC is a low cost/high quality miner. But I would not bet these advantages will flow into the share price which in my view will continue to be depressed by social opprobrium. But the dividends will stay high for at least the next two decades or until technology renders coal power redundant.
NHC Price at posting:
$1.15 Sentiment: Buy Disclosure: Held
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