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Weak earnings outlook for ailing US coal industry

The COVID-19 pandemic has dealt the ailing USA thermal coal market another severe blow, according to Moody's Investors Service VP, Benjamin Nelson, who says the country's coal mining industry remains highly vulnerable to effects of the pandemic.

Weak earnings outlook for ailing US coal industry Weak earnings outlook for ailing US coal industry Weak earnings outlook for ailing US coal industry Weak earnings outlook for ailing US coal industry Weak earnings outlook for ailing US coal industry

Coronavirus is accelerating coal's demise in the US energy mix

Nelson expects domestic thermal coal demand to drop 30% in 2020.

"We expect very weak second-quarter earnings for coal producers under our current baseline scenario.