United Tractors and Adaro Energy Rank Among the World's Top 10 Largest Coal Companies in 2023

Based on Companies Market Cap data, Indonesia's United Tractors and Adaro Energy are among the world's largest coal mining companies by market capitalization in 2023.

United Tractors ranks sixth with a market capitalization of US$5.88 billion, or approximately Rp93.34 trillion (assuming Rp15,875 per US$). This company is a subsidiary of PT Astra International Tbk.

Adaro Energy follows in seventh place, with a market capitalization of US$5.26 billion, or Rp83.50 trillion. This company is owned by Garibaldi 'Boy' Thohir, brother of Indonesia's Minister of State-Owned Enterprises, Erick Thohir.

China Shenhua Energy holds the top spot as the world's largest coal company. This Chinese state-owned coal company had a market capitalization of US$80.31 billion, or Rp1.27 quadrillion in 2023.

In addition to coal mining operations, China Shenhua Energy also operates power plants in China.

Glencore, ranked second, is a multinational coal company headquartered in Switzerland. Glencore has a market capitalization of US$65.02 billion, or Rp1.03 quadrillion.

Glencore's business lines are concentrated in commodity trading and coal mining. Besides coal, the company also trades oil and gas, zinc, copper, and grains.

Below is a complete list of the top 10 coal mining companies by market capitalization worldwide as of October 25, 2023:

1. China Shenhua Energy (China): US$80.31 billion
2. Glencore (Switzerland): US$65.02 billion
3. Coal India (India): US$22.67 billion
4. Yankuang Energy (China): US$17.73 billion
5. Washington H. Soul Pattinson and Company/WHSP (Australia): US$7.77 billion
6. United Tractors (Indonesia): US$5.88 billion
7. Adaro Energy (Indonesia): US$5.26 billion
8. Yancoal (Australia): US$4.11 billion
9. CONSOL Energy (United States): US$3.34 billion
10. Peabody Energy (United States): US$3.27 billion

(See also: 10 Largest Companies in the World 2023, Apple Beats Oil Companies)