Jun. 4 at 8:43 PM
President Trump unveiled a nearly
$700 million federal funding package to revive the U.S. coal industry, invoking the Defense Production Act to support coal-fired power generation and infrastructure. The plan includes
$425 million to modernize 13 existing coal plants across 10 states,
$75 million for a new coal export terminal in California, and
$200 million in Department of Energy grants for two new coal plants in Alaska and West Virginia, as well as the restart of a facility in Maryland. The initiative marks the first construction of new U.S. coal plants since 2013.
Coal-related stocks rose on the news, with Peabody Energy gaining about 4% and the Range Global Coal Index ETF advancing roughly 2.4%. Utilities with coal exposure also posted modest gains. The administration said the program will create thousands of jobs, lower power-generation costs, and strengthen energy security as electricity demand rises, particularly from AI data centers.
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