Plumtree North delivers for Bowen Coking Coal

Bowen Coking Coal has achieved first run-of-mine (ROM) coal ahead of schedule from the Plumtree North pit at its Burton mine complex. The company said the milestone followed the recent completion of a $70 million equity raise that provided it with balance sheet flexibility to fund the Plumtree North development costs, pre-payments, guarantees and general working capital requirements. “I am extremely proud of the team effort to expedite first ROM coal at Plumtree North, originally forecasted for Q3 FY2025," chief executive officer Daryl Edwards said. Related: Bowen Coking Coal completes key money move "Our thanks go out to the Burton team, mining contractor and other contractors that are involved. "We are extremely grateful to all shareholders for supporting us in our efforts to continue with mine development activities at the Plumtree North mine." Mr Edwards said Plumtree North was anticipated to provide ROM coal for the next five years. The new mine lies just south of Ellensfield South at the Burton complex, in close proximity to the CHPP. The first overburden blast was fired on September 26. It is the third mining area to come into play at Bowen Coking Coal’s Burton mine complex in the Bowen Basin, following on from Broadmeadow East and the Ellensfield South pit. Leadership changes at Bowen Coking Coal Meanwhile the company, which held its AGM today, has announced a raft of leadership changes. Having joined Bowen in December 2018 as a non-executive director, Nick Jorss stepped up to the executive chairman role in February 2021 to lead the company’s transition from exploration phase to production phase. Now that the company has achieved this steady state production, Mr Jorss will return to his non-executive director role after the company appoints a non-executive chairperson early next year. Staffan Ever, a co-founder and executive chairman of natural resources marketing and trading house the Square Group, has been appointed as a non-executive director. Michael Chapman, who previously held chief operating officer roles at White Energy Company and Felix Resources, has also been appointed as a non-executive director. Bowen Coking Coal executive chair Nick Jorss. “Bowen Coking Coal has undergone a process of board and leadership renewal this year marked by the appointment of Mr Daryl Edwards as our new chief executive officer in January and the appointment of Mr Malte von der Ropp as a non-executive director in April," Mr Jorss said. "Having achieved steady state production at our flagship Burton mine complex near Moranbah, and significantly strengthened the balance sheet, the business is in good shape. "I’m extremely proud of the herculean efforts from our team to create a significant new coking coal producer in the Bowen Basin from a standing start just three years ago. "This has been achieved in the face of significant challenges including the imposition of world-record royalties that have stripped the company of much-needed cash during our delicate and challenging start-up phase. "Our first-class team has persevered to overcome the challenges and put the business on a sound footing today. "I am excited by the opportunities that lie ahead for Bowen and now that we have progressed on our transformation plan, it’s the right time for me, my family, and the business, that I return to a non-executive role and continue to support Daryl and the team from the board room." You may also like: https://industryqld.com.au/moorvale-south-extension-plans-in-approvals-pipeline/

Plumtree North delivers for Bowen Coking Coal

Industry Queensland

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