> Coal has few friends on the buyer side

Which type: metallurgic (used to make steel) or thermal (for power)?

Metallurgic coal is the more expensive, loved kind (as you need it to make buildings) and that is what Australia produces, at ~40% of total exports by volume (not sure via value). https://minerals.org.au/sites/default/files/181012%20Commodi... BTW: that is 3X the next biggest metallurgic coal exporter (the USA).

> There seems to be real chance that the demand for Australian coal drops by >50% in the next few years

Where are you getting that figure from? Coking coal looks pretty solidly in growth from what I know.