7.4.1.2Vertical
Surface & Open-Pit Coal Mining
Surface and strip mining operations producing thermal and met coal.
Market snapshot
These figures describe Coal Mining & Processing (7.4.1), the segment that Surface & Open-Pit Coal Mining sits within — not Surface & Open-Pit Coal Mining on its own.
- Market size
- ~$27B
- Growth
- ~0.5%CAGR (2017–22, nominal)
- Companies
- ~500
FragmentationConsolidatingEstimate
U.S. Census Bureau 2022 Economic Census, NAICS 212114/212115 (surface/underground coal mining; 2017 establishment counts under prior codes); roughly flat as export/met-coal offsets thermal decline.
Business model & economics
Revenue model
Thermal and metallurgical coal sales
Key economics
- Recurring revenue
- Moderate
- EBITDA margin
- Cyclical; price- and demand-driven
- Capex intensity
- High
contracted power and export demand
Characteristics
- Thermal coal in structural domestic decline.
- Metallurgical and export coal more durable.
- Managed contraction and capital discipline.
M&A deal context
Deal activityEmerging
Who’s acquiring
- Coal producers
- Metallurgical/export-focused acquirers
- Distressed & value investors
What’s driving deals
- Divergence of thermal vs. met/export coal.
- Managed contraction and consolidation.
- Export-market and steel-demand dynamics.
Find Surface & Open-Pit Coal Mining acquisition targets
Search Acquisera’s index for companies classified under Surface & Open-Pit Coal Mining (7.4.1.2) and build a targeted deal pipeline.
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