MTL is actually making money though. They are selling non-core businesses like their mining operations to lower their debt . They are developing some of the largest coal mines. Their mines are CLOSE to CHINA. They have steel, nickle, and energy which isn't being demonized by the government. It has political risk though.
ANR on the other hand is losing money and thermal coal business is worth nothing. 40% of the company is thermal. Met coal is worth something but ANR's met business is worth 11 per share. They have 16.50 a share in net debt. Their freight business is worth 5 per share. So the company is basically worth nothing. A company that can't make money is worth 0.
You like stocks that have been beaten up badly: look at EBR, YPF, VE, FTE, and if you want more I will give you some more.
I made 150% in 2008 when the market crashed. I am master of the trade and king of the coin.