Headed back up, page-144

That article is old and most, if not all of those companies supply Thermal, not coking coal. Thermal and coking do not have the same metrics anymore since other energy supplies are gaining marketshare. Nothing except graphite can replace coking coal for carbonisation and even then it doesn't do a good job and its expensive.

CPL just sold their thermal project in Canada (process of selling).
Bandana is thermal (flagship project anyway)
WHC does some PCI but also thermal (maules creek project, etc).

Washington Sol Patterson and NHC are practically the same on the coal side. And its thermal.

I'm in the coal industry and have worked on most if not all of their flagship projects in some capacity (usually coal quality).

These are not the companies I was talking about. Also, I don't think the bubble will start until 2017, but it'll happen quick. Look at 2008 -> 2012 coal prices. It doesn't take long or last long haha.