Largest Thermal Coal Companies by Market Cap

Largest Thermal Coal companies by market cap. The Thermal Coal sector has 108 publicly listed stocks with a combined market cap of $466.28 Billion. China Shenhua Energy Co leads the sector with a market cap of $124.57 Billion. This ranking covers all Thermal Coal stocks globally — from large-cap industry leaders to mid-cap and small-cap companies — ranked by market capitalization and updated daily.

Total Market Cap (USD)

$466.28 Billion

Companies Listed

108

Largest Company

China Shenhua Energy …

Top Thermal Coal Stocks by Market Capitalization (October 2026)

Top Thermal Coal stocks by market capitalization as of October 2026, covering 108 publicly listed companies.

Rank Company Market Cap (USD) Market Cap (Local) Country Price 24h Change 7d Change 24h Volume
1 China Shenhua Energy Co
SHG:601088 		$124.57 Billion CN¥851.27 Billion China CN¥51.62 +3.97% +4.77% 805.21 Million
2 Shaanxi Coal Industry Co Ltd
SHG:601225 		$39.01 Billion CN¥266.61 Billion China CN¥27.50 +2.27% -0.48% 853.64 Million
3 Adani Enterprises Limited
NSE:ADANIENT 		$32.55 Billion Rs3.01 Trillion India Rs2607.90 +5.17% +0.52% 39.68 Million
4 Coal India Limited
NSE:COALINDIA 		$26.20 Billion Rs2.42 Trillion India Rs393.10 +0.28% -3.53% 144.81 Million
5 CHINA SHENHUA EN.A ADR/4
F:IKFC 		$20.14 Billion €17.23 Billion Germany €20.40 +3.03% +6.25% 360.00
6 China Coal Energy Co Ltd
SHG:601898 		$18.96 Billion CN¥129.59 Billion China CN¥14.16 +1.51% -4.52% 781.77 Million
7 Bayan Resources Tbk
JK:BYAN 		$18.65 Billion Rp318.33 Trillion Indonesia Rp9550.00 -3.78% -7.06% 44.59 Million
8 China Shenhua Energy Company Limited
F:IKF 		$18.59 Billion €15.90 Billion Germany €4.71 +0.28% +3.86% 4.71K
9 Yankuang Energy Group Co Ltd
SHG:600188 		$16.40 Billion CN¥112.09 Billion China CN¥18.80 +3.64% +0.48% 777.98 Million
10 Huolinhe Opencut Coal Industry Corp Ltd of Inner Mongolia
SHE:002128 		$9.23 Billion CN¥63.08 Billion China CN¥28.14 +0.32% +2.07% 361.98 Million
11 Inner Mongolia Yitai Coal Co Ltd
SHG:900948 		$8.31 Billion $8.31 Billion China $2.84 -7.62% -18.26% 94.53 Million
12 Yanzhou Coal Mining Company Limited
F:YZC 		$6.86 Billion €5.87 Billion Germany €14.40 +18.03% -11.66% 1.96K
13 Shanxi LuAn Environmental Energy Development Co Ltd
SHG:601699 		$6.37 Billion CN¥43.55 Billion China CN¥14.56 +0.48% -1.22% 510.48 Million
14 Dian Swastatika Sentosa Tbk
JK:DSSA 		$6.21 Billion Rp105.99 Trillion Indonesia Rp685.00 +5.38% -7.43% 7.05 Billion
15 Yanzhou Coal Mining Company Limited
F:YZCA 		$5.73 Billion €4.90 Billion Germany €1.20 +1.52% +4.34% 0.00
16 Yancoal Australia Ltd
AU:YAL 		$5.72 Billion AU$8.08 Billion Australia AU$6.12 +1.66% +3.90% 73.60 Million
17 Shanxi Xishan Coal and Electricity Power Co Ltd
SHE:000983 		$5.39 Billion CN¥36.84 Billion China CN¥6.49 +4.17% +3.51% 1.24 Billion
18 China Coal Energy Company Limited
F:CVV 		$5.27 Billion €4.51 Billion Germany €1.10 +0.97% +0.46% 8.83K
19 Whitehaven Coal Ltd
AU:WHC 		$4.60 Billion AU$6.50 Billion Australia AU$7.87 +1.03% +2.34% 97.50 Million
20 Shan XI Hua Yang Group New Energy Co Ltd
SHG:600348 		$4.47 Billion CN¥30.52 Billion China CN¥8.46 +0.48% -1.86% 518.38 Million
21 Wintime Energy Co Ltd
SHG:600157 		$4.41 Billion CN¥30.11 Billion China CN¥1.38 +0.00% -2.82% 8.02 Billion
22 Core Natural Resources, Inc.
NYSE:CNR 		$4.39 Billion $4.39 Billion USA $87.15 -1.41% -0.46% 10.67 Million
23 PT Alamtri Resources Indonesia Tbk
JK:ADRO 		$4.00 Billion Rp68.26 Trillion Indonesia Rp2370.00 -2.87% -1.25% 1.04 Billion
24 Jinneng Holding Shanxi Coal Industry Co Ltd
SHG:601001 		$3.99 Billion CN¥27.25 Billion China CN¥16.28 +0.80% -2.22% 423.71 Million
25 China Coal Xinji Energy Co Ltd
SHG:601918 		$3.73 Billion CN¥25.52 Billion China CN¥9.85 +2.50% -1.99% 1.00 Billion
26 New Hope Corporation Ltd
AU:NHC 		$3.58 Billion AU$5.05 Billion Australia AU$5.99 +2.22% -1.96% 69.10 Million
27 Shanxi Coal International Energy Group Co Ltd
SHG:600546 		$3.53 Billion CN¥24.15 Billion China CN¥12.18 +0.74% -2.56% 447.09 Million
28 Alliance Resource Partners LP
NASDAQ:ARLP 		$3.46 Billion $3.46 Billion USA $26.93 +1.39% +4.66% 7.01 Million
29 Guangzhou Development Group Inc
SHG:600098 		$3.32 Billion CN¥22.72 Billion China CN¥6.48 +0.62% +2.05% 369.88 Million
30 Pingdingshan Tianan Coal Mining Co Ltd
SHG:601666 		$2.89 Billion CN¥19.78 Billion China CN¥8.01 +0.38% -1.72% 500.62 Million
31 Peabody Energy Corp
NYSE:BTU 		$2.71 Billion $2.71 Billion USA $22.23 -1.24% -0.94% 48.37 Million
32 PT Petrindo Jaya Kreasi Tbk
JK:CUAN 		$2.70 Billion Rp46.09 Trillion Indonesia Rp410.00 -5.09% -18.81% 10.59 Billion
33 Bumi Resources Tbk
JK:BUMI 		$2.63 Billion Rp44.93 Trillion Indonesia Rp121.00 -4.72% -10.37% 48.79 Billion
34 Beijing Haohua Energy Resource Co Ltd
SHG:601101 		$2.50 Billion CN¥17.09 Billion China CN¥11.87 +4.40% -1.08% 365.44 Million
35 PT Golden Energy Mines Tbk
JK:GEMS 		$2.50 Billion Rp42.65 Trillion Indonesia Rp7250.00 +0.69% -0.68% 10.29 Million
36 Exxaro Resources Ltd
JSE:EXX 		$2.37 Billion ZAC4.46 Trillion South Africa ZAC19060.00 -0.75% +2.89% 17.58 Million
37 Jizhong Energy Resources Co Ltd
SHE:000937 		$2.21 Billion CN¥15.09 Billion China CN¥4.27 -0.47% -2.06% 740.59 Million
38 Henan Dayou Energy Co Ltd
SHG:600403 		$2.13 Billion CN¥14.56 Billion China CN¥6.09 +2.70% -2.87% 2.15 Billion
39 Bukit Asam Tbk PT
JK:PTBA 		$2.06 Billion Rp35.23 Trillion Indonesia Rp3060.00 -5.85% -1.61% 1.23 Billion
40 Gansu Jingyuan Coal Industry and Electricity Power Co Ltd
SHE:000552 		$1.86 Billion CN¥12.74 Billion China CN¥2.38 +0.42% +0.85% 1.42 Billion
41 Indo Tambangraya Megah Tbk
JK:ITMG 		$1.63 Billion Rp27.80 Trillion Indonesia Rp24600.00 -1.50% -1.20% 48.88 Million
42 Guizhou Panjiang Refined Coal Co Ltd
SHG:600395 		$1.59 Billion CN¥10.88 Billion China CN¥5.07 -0.78% +4.75% 672.16 Million
43 Gujarat Mineral Development Corporation Limited
NSE:GMDCLTD 		$1.51 Billion Rs139.52 Billion India Rs438.75 +0.55% -0.96% 17.66 Million
44 Natural Resource Partners LP
NYSE:NRP 		$1.40 Billion $1.40 Billion USA $116.50 -0.88% +1.63% 511.89K
45 Shanxi Lanhua Sci-Tech Venture Co Ltd
SHG:600123 		$1.37 Billion CN¥9.37 Billion China CN¥6.36 +1.60% -3.20% 457.68 Million
46 Anhui Hengyuan Coal Industry and Electricity Power Co Ltd
SHG:600971 		$1.36 Billion CN¥9.32 Billion China CN¥7.77 +1.30% -4.43% 315.88 Million
47 Shanghai Datun Energy Resources Co Ltd
SHG:600508 		$1.27 Billion CN¥8.68 Billion China CN¥8.58 -1.15% -13.42% 338.99 Million
48 ZJMI Environmental Energy Co. Ltd.
SHG:603071 		$961.79 Million CN¥6.57 Billion China CN¥11.78 -0.93% -0.17% 64.78 Million
49 Thungela Resources Limited
JSE:TGA 		$942.60 Million ZAC1.77 Trillion South Africa ZAC13955.00 -3.48% -0.51% 15.91 Million
50 Jastrzebska Spotka Weglowa SA
WAR:JSW 		$897.67 Million zł3.26 Billion Poland zł27.78 -1.00% -10.39% 10.40 Million
51 GMR Power and Urban Infra Limited
NSE:GMRP&UI 		$779.43 Million Rs72.07 Billion India Rs92.28 -1.35% -3.75% 37.86 Million
52 Baramulti Suksessarana Tbk
JK:BSSR 		$774.25 Million Rp13.21 Trillion Indonesia Rp5050.00 -1.94% -2.42% 52.50 Million
53 Zhengzhou Coal Industry & Electric Power Co Ltd
SHG:600121 		$747.04 Million CN¥5.11 Billion China CN¥4.19 -2.10% -9.11% 3.82 Billion
54 Prima Andalan Mandiri Tbk PT
JK:MCOL 		$737.53 Million Rp12.59 Trillion Indonesia Rp3540.00 +0.85% -0.28% 1.21 Million
55 Sumber Global Energy Tbk Pt
JK:SGER 		$712.40 Million Rp12.16 Trillion Indonesia Rp780.00 -2.50% +3.31% 1.33 Billion
56 Indika Energy Tbk
JK:INDY 		$567.03 Million Rp9.68 Trillion Indonesia Rp1860.00 -6.77% -12.26% 399.77 Million
57 Golden Eagle Energy Tbk
JK:SMMT 		$561.94 Million Rp9.59 Trillion Indonesia Rp2800.00 -5.72% -9.68% 28.28 Million
58 Harum Energy Tbk PT
JK:HRUM 		$523.91 Million Rp8.94 Trillion Indonesia Rp680.00 -6.21% -6.85% 248.95 Million
59 Darma Henwa Tbk
JK:DEWA 		$517.11 Million Rp8.82 Trillion Indonesia Rp226.00 -5.83% -12.40% 12.64 Billion
60 Abm Investama Tbk
JK:ABMM 		$400.08 Million Rp6.83 Trillion Indonesia Rp2480.00 +0.00% -0.80% 19.96 Million
61 Refex Industries Limited
NSE:REFEX 		$329.89 Million Rs30.50 Billion India Rs222.30 -0.16% -7.05% 7.51 Million
62 Lanna Resources Public Company Limited
BK:LANNA 		$240.55 Million ฿7.72 Billion Thailand ฿14.70 +0.00% -0.68% 3.10 Million
63 Lubelski Wegiel Bogdanka S.A.
WAR:LWB 		$235.90 Million zł857.14 Million Poland zł25.20 +0.20% -1.18% 2.09 Million
64 NACCO Industries Inc
NYSE:NC 		$213.62 Million $213.62 Million USA $35.73 +2.06% +8.87% 593.59K
65 TBS Energi Utama Tbk PT
JK:TOBA 		$204.95 Million Rp3.50 Trillion Indonesia Rp424.00 -6.61% +26.95% 965.62 Million
66 HMS Bergbau AG
XETRA:HMU 		$174.74 Million €149.46 Million Germany €32.90 +3.13% -0.60% 35.39K
67 PT MNC Energy Investments Tbk
JK:IATA 		$150.28 Million Rp2.56 Trillion Indonesia Rp82.00 -2.38% -10.87% 8.64 Billion
68 MC Mining Ltd
AU:MCM 		$124.78 Million AU$176.35 Million Australia AU$0.26 +0.00% +0.00% 134.55K
69 Mitrabara Adiperdana PT
JK:MBAP 		$118.30 Million Rp2.02 Trillion Indonesia Rp1645.00 -0.30% +5.79% 2.02 Million
70 Samindo Resources Tbk
JK:MYOH 		$116.35 Million Rp1.99 Trillion Indonesia Rp900.00 -0.55% +0.00% 2.41 Million
71 Atlas Resources Tbk
JK:ARII 		$102.84 Million Rp1.75 Trillion Indonesia Rp468.00 -6.40% -6.40% 65.91 Million
72 Dwi Guna Laksana Tbk PT
JK:DWGL 		$87.29 Million Rp1.49 Trillion Indonesia Rp161.00 -5.29% +5.23% 37.80 Million
73 Resource Alam Indonesia Tbk
JK:KKGI 		$80.53 Million Rp1.37 Trillion Indonesia Rp282.00 -2.08% +0.00% 95.60 Million
74 RMK Energy PT Tbk
JK:RMKE 		$79.47 Million Rp1.36 Trillion Indonesia Rp310.00 +0.65% +1.31% 938.26 Million
75 PT Buma Internasional Grup Tbk
JK:DOID 		$64.67 Million Rp1.10 Trillion Indonesia Rp150.00 -0.66% -10.71% 159.23 Million
76 Altinyag Kombinalari AS
IS:ALMAD 		$61.22 Million TL2.73 Billion Turkey TL9.94 +0.00% +0.00% 10.08 Million
77 Bumech S.A.
WAR:BMC 		$50.98 Million zł185.25 Million Poland zł12.35 -3.59% -6.51% 2.29 Million
78 Asia Green Energy Public Company Limited
BK:AGE 		$49.60 Million ฿1.59 Billion Thailand ฿1.33 +0.00% -1.48% 12.13 Million
79 Terracom Ltd
AU:TER 		$46.42 Million AU$65.61 Million Australia AU$0.04 -5.26% -36.84% 90.28 Million
80 Park Elektrik Uretim Madencilik Sanayi ve Ticaret AS
IS:PRKME 		$37.81 Million TL1.69 Billion Turkey TL11.34 -0.61% -11.06% 70.91 Million
81 Ulima Nitra PT
JK:UNIQ 		$26.12 Million Rp445.74 Billion Indonesia Rp142.00 -1.39% +24.56% 490.25 Million
82 Garda Tujuh Buana Tbk
JK:GTBO 		$24.61 Million Rp420.00 Billion Indonesia Rp168.00 +0.00% -16.00% 8.92 Million
83 Coal Energy S.A.
WAR:CLE 		$21.31 Million zł77.42 Million Poland zł1.72 -1.15% -3.91% 1.21 Million
84 Wescoal Holdings Ltd
JSE:SLG 		$21.16 Million ZAC39.81 Billion South Africa ZAC97.00 -1.02% +5.43% 905.96K
85 Falcon Power Co Ltd
TW:1516 		$20.80 Million NT$660.18 Million Taiwan NT$22.00 -2.22% -11.05% 3.17 Million
86 White Energy Company Ltd
AU:WEC 		$19.87 Million AU$28.08 Million Australia AU$0.24 +4.35% +9.09% 9.40 Million
87 Unique Mining Services Public Company Limited
BK:UMS 		$19.36 Million ฿620.97 Million Thailand ฿0.26 +0.00% +0.00% 0.00
88 Thai Capital Corporation Public Company Limited
BK:TCC 		$11.74 Million ฿376.80 Million Thailand ฿0.27 -3.57% +0.00% 12.67 Million
89 Morien Resources Corp
V:MOX 		$10.23 Million CA$14.14 Million Canada CA$0.24 -2.08% +9.30% 616.19K
90 Alfa Energi Investama Tbk PT
JK:FIRE 		$7.43 Million Rp126.88 Billion Indonesia Rp86.00 -5.49% +10.26% 307.48 Million
91 Akbar Indomakmur Stimec Tbk
JK:AIMS 		$7.09 Million Rp121.00 Billion Indonesia Rp550.00 -6.78% -31.68% 50.25 Million
92 Anmol India Limited
NSE:ANMOL 		$6.87 Million Rs635.16 Million India Rs11.16 -0.27% -3.04% 891.81K
93 Hidili Industry International Development Limited
F:3H3 		$5.38 Million €4.61 Million Germany €0.00 +0.00% +0.00% 0.00
94 Austchina Holdings Ltd
AU:AUH 		$4.99 Million AU$7.05 Million Australia AU$0.00 +0.00% +33.33% 4.21 Million
95 Borneo Olah Sarana Sukses PT
JK:BOSS 		$4.10 Million Rp70.00 Billion Indonesia Rp50.00 +0.00% +0.00% 0.00
96 REY Resources Ltd
AU:REY 		$4.04 Million AU$5.71 Million Australia AU$0.03 +0.00% +0.00% 0.00
97 Australian Pacific Coal Ltd
AU:AQC 		$3.22 Million AU$4.55 Million Australia AU$0.01 +0.00% +0.00% 0.00
98 Mercator Limited
NSE:MERCATOR 		$2.78 Million Rs257.09 Million India Rs0.85 +0.00% +0.00% 0.00
99 Pacific Resources Limited
AU:PXR 		$2.55 Million AU$3.60 Million Australia AU$0.00 +0.00% +0.00% 5.74 Million
100 Clean & Carbon Energy S.A.
WAR:CCE 		$2.47 Million zł8.98 Million Poland zł0.26 +0.77% +13.91% 51.64K
101 Yari Minerals Ltd
AU:YAR 		$1.78 Million AU$2.52 Million Australia AU$0.00 +50.00% +20.00% 70.09 Million
102 GCM Resources Plc
LSE:GCM 		$596.15K GBX4.90 Billion UK GBX13.00 +0.00% -3.70% 40.03 Million
103 Southstone Minerals Ltd
V:SML 		$334.02K CA$461.74K Canada CA$0.04 +0.00% +0.00% 3.42 Million
104 Exploitasi Energi Indonesia
JK:CNKO 		$249.33K Rp4.25 Billion Indonesia Rp37.00 +0.00% +8.82% 164.68 Million
105 Contango Holdings PLC
LSE:CGO 		$64.56K GBX530.59 Million UK GBX0.70 +0.00% +0.00% 13.99 Million
106 Oracle Coalfields Plc
LSE:ORCP 		$61.33K GBX504.05 Million UK GBX0.03 -7.19% -1.00% 1.89 Billion
107 Bisichi Mining PLC
LSE:BISI 		$57.16K GBX469.78 Million UK GBX44.00 -37.14% -41.33% 1.85 Million
108 BANPU PCL -FGN- BA 1
F:BPFG 		$1.44K €1.23K Germany €0.13 -1.52% +0.78% 0.00

How Thermal Coal Companies Are Ranked by Market Cap

Thermal Coal companies are ranked by market cap, the latest share price multiplied by shares outstanding, with each company counted once at its primary listing.

Track real-time market capitalization of largest public companies in the Thermal Coal industry. Compare marketcap, analyze stock performance, and discover leading thermal coal corporations. View all industries