MineSpans: Metals & Mining Market Intelligence

The most detailed mine-level view of markets, costs, margins and supply and demand β€” thermal and metallurgical coal, modeled together for the first time.

MineSpans by McKinsey, delivered by McCloskey, brings mine-level cost curves directly onto the benchmark platform you already trade against.

In today’s volatile metallurgical coal markets, reliable data are critical when making investment and trading decisions. However, most supply, demand, and cost-intelligence tools lack the transparency and accuracy that analysts need. Further muddying the waters, coking coal pricing is opaque with values differing significantly by coal type and brand. Understanding an individual mine’s competitiveness amid an evolving cost environment is challenging.

Covering ~95% of seaborne metallurgical coal (>96% for hard coking coal) across 200+ individually modeled mines, MineSpans delivers fully transparent, source-annotated asset intelligence linked to live McCloskey price markers.

MineSpans provides an independent, alternative view on commodity markets, supporting clients with perspectives, granular data and deep insights.

Built by operational and financial mining experts, MineSpans empowers you to:

  • Understand the mining costs and delivered costs for all seaborne trade-serving mines globally.
  • Understand historical volumes, as well as the volume of new supply coming online by defined quality.
  • Use filters to include or exclude assets based on stage of development, quality, location, market or numerous other variables.
  • MineSpans includes McCloskey’s demand expectations for each market.

Commodities covered by MineSpans are: Lithium, Cobalt, Metallurgical coal, Iron ore, Uranium, Zinc, Copper, Nickel and Gold.

REQUEST A FREE TRIAL

Metallurgical Coal

MineSpans by McKinsey, delivered by McCloskey

  • Coverage: ~100% of seaborne met coal, 200+ mines, 100% of North America, 25+ projects tracked by likelihood of development
  • Products: HCC, PCI and SSCC β€” priced against the PHCC benchmark, with quality-adjusted price differences by mine
  • Value chain: supply, demand, market balance, costs, ESG and maps
  • Connected to the Steel Raw Materials service: met coal cost data feeds our published price forecasts, and margin curves are built against SRM benchmarks
  • Updates: weekly market information, quarterly cost and FX refresh

Thermal Coal

McCloskey thermal coal cost curves

  • Coverage: full thermal coal cost-curve coverage of the seaborne market β€” power generation, utilities and trading β€” new in 2026
  • Delivered on the McCloskey platform and reflected in our key thermal publications
  • Value chain: the same supply, demand, market balance, costs, ESG and maps structure as met coal
  • Margins against live API 2 and API 4 benchmarks β€” which assets sit near marginal cost under current prices, and which drop out of the curve under a price scenario
  • Its own workspace, separate from met coal, so permissions and data stay clean

Register for a trial