People can still start new mines, but the price of coal will increase due to the capital costs that incurs (and the time it takes to ramp up production). This w

People can still start new mines, but the price of coal will increase due to the capital costs that incurs (and the time it takes to ramp up production). This works the same as a tax on coal, or a subsidy on its competitors: some people will keep using it, but people on the margins will be pushed to the alternative. The fact that the cost increase is likely front-loaded due to the time it takes to ramp up a new mine is probably extra beneficial in the case of coal, since it's on its way out as a technology. Mining coal might be worth it right now, but will it be worth it by the time your new mine is up and running? With lithium, the answer would be yes, because lithium demand is growing. With coal, hopefully not so much.