British News Agency

Trump signed the presidential order during an event at the White House, which was attended by Peabody Energy CEO James Grech.

The order directs the Pentagon to make long-term electricity purchase agreements with coal plants for military facilities.

Trump said, “We will now buy large amounts of coal through the military.” Peabody's shares rose 4% in after-hours trading following the announcement.

The U.S. President also said he had instructed the Department of Energy to provide funding to keep coal plants in West Virginia, Ohio, North Carolina, and Kentucky open.

Last April, Trump declared coal to be vital to U.S. national and economic security. At that time, he issued various executive orders aimed at increasing coal production.

The coal industry has been in decline for years as it struggles to compete with natural gas and renewable energy. According to the Energy Information Administration, around 16% of U.S. electricity generation in 2023 came from coal, down from 51% in 2001.