The mineralogical and geochemical compositions of the Lopingian coals from an exploratory drill core (ZK4-1) in the Zhongliangshan Coalfield, southwestern China are reported in this paper. The Zhongliangshan coals are medium volatile bituminous in rank (random vitrinite reflectance, average 1.38%), characterized by a medium-ash yield (26.84%) and high sulfur content (3.38%). Minerals in the Zhongliangshan coals are mainly composed of clay assemblages (kaolinite, the illite/smectite mixed layer (I/S) and chamosite), pyrite, quartz, carbonate minerals (calcite, marcasite, ankerite, and dolomite), and anatase, followed by rutile, jarosite, natrojarosite, bassanite, gypsum and K-feldspar, with traces of apatite, rhabdophane and barite. Compared with the average concentrations of the world hard coals, some trace elements including Li, V, Co, Cu, Se, Y, Zr, Nb, rare earth elements (REE), Cd, Ta, Hf and Hg, are enriched in the Zhongliangshan coals. The modes of occurrence of chamosite, barite, rhabdophane, quartz and calcite in the Zhongliangshan coals indicate that the coals have probably been affected by the injection of low-temperature hydrothermal fluids. Based on the concentrations of Sc, V, Cr, Co, Ni, Cu and Zn, the ratios of Al2
and the upper continental crust-normalized rare earth element and yttrium (REY) distribution patterns of the Zhongliangshan coals, the dominant sediment source regions are the Leshan–Longnvsi Uplift, Hannan Upland, and Dabashan Uplift, with a small proportion of terrigenous materials from the Kangdian Upland. The K7 and the upper portion of K1 coals have the potential as raw materials for the recovery of REY.