A coal extract hydrocracking catalyst having particular utility in a two stage coal extracting process which has a first liquid hydrogen donor solvent oil extraction stage and a second stage comprising catalytic hydrocracking of the extract. Desired levels of hydrocracking and hydrogenation of the extract, with an acceptable level of naphthene formation, are achieved by using on the coal extract hydrocracking catalyst a mixture of a promoted W or Mo catalyst with an unpromoted W or Mo catalyst.
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