Bowen Coking Coal ‘starting to hit its stride’

Bowen Coking Coal notched up a run-of-mine (ROM) record in March, with 259,000 tonnes of coal mined at its Burton complex. Daryl Edwards. The Bowen Basin miner reported a maiden group EBITDA of $11 million in the past quarter, after accounting for Queensland Government royalties of $19 million. Chief executive officer Daryl Edwards, in his first quarter in that role, said there was strong evidence that the company was starting to hit its stride, delivering on its near-term strategy to enhance operations by producing higher quality, premium-priced steelmaking coal while tightening costs. Although ROM coal mined was down across the March quarter compared to the previous quarter after the Bluff mine ceased production, the company achieved a record production result in the month of March. "At the Burton Mine Complex where performance is markedly improving, 259 kilotonnes was mined in March across the Ellensfield South and Broadmeadow East mines," Mr Edwards said. The Ellensfield South open-cut mine. "The record number, which effectively represents the Burton Complex steady-state mining rates, was achieved in the wake of higher-than-expected rainfall, lightning, rail cancellations and port closures. "Encouragingly, total coal sales from the Burton Mine Complex were 7.4 per cent higher than the prior comparative period. "Personnel and equipment will be relocated to Ellensfield South during the June quarter from Broadmeadow East, where open-cut mining will pause until further notice. "This decision will ensure we focus on meeting our imperative to attain and improve steady-state mining rates at Ellensfield South, with a view to fully utilise module 1 capacity at the CHPP in the near-term.” The company reported that proactive discussions with the mining contractor at Ellensfield South had resulted in the number of excavators in operation at the mine being increased to four, following the mobilisation of a brand-new Hitachi 360t excavator late in March. This excavator was supported by the relocation of people and three trucks from Broadmeadow East. Bowen Coking Coal continued work to assess various project development options at the nearby Lenton deposit throughout the March quarter (map at right). The company said the integration of coal mining from Lenton had been included in longer term schedules. Environmental assessments relating to Commonwealth EPBC controlling provisions progressed during the quarter.

Bowen Coking Coal ‘starting to hit its stride’

Industry Queensland

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