Yesterday, the Senate approved a Congressional Review Act resolution to reverse a Biden-era land management plan in Wyoming, which effectively banned coal leasing. The House approved the legislation on Tuesday. The action restores the government's ability to allow responsible economic activity on federal lands that are designated for multiple use.

And a positive milestone from the Federal Permitting Improvement Steering Council, which has now added 50 mining projects to its streamlines processes under FAST-41. For years, the National Mining Association advocated for the inclusion of mining projects under the FAST-41 transparency program and they were successfully added in the first Trump administration. Since January, the second Trump administration has moved decisively to use the transparency initiative to unlock America's energy and mineral resources.

And the latest numbers show that China's electricity generation from coal jumped in October, even while the country's coal output declined. That means higher prices for fuel supplies and, with coal demand entering its peak season at a time when the country has imposed nationwide output restrictions, more of the country's coal will need to come from overseas.