Tag: Vitrinite

Receivers have short-listed potential buyers for collapsed Vulcan coal mine owner Vitrinite’s Bowen Basin assets, with final bids due on May 26.

KordaMentha put the call out last month for expressions of interest in what is described as a Tier 1 metallurgical coal portfolio.

It comes after Vitrinite’s senior secured creditor Trafigura called in the receivers (Richard Tucker and David Johnstone of KordaMentha) and administrators (Tom Birch and Jeremy Nipps of Cor Cordis) on February 22.

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Vitrinite's Vulcan mine complex and Callan coking coal project are on the market as receivers look to sell or recapitalise the group's portfolio.

KordaMentha has put the call out for expressions of interest in what is described as a Tier 1 metallurgical coal portfolio strategically located in the world-class Bowen Basin.

It comes after Vitrinite's senior secured creditor Trafigura called in the receivers (Richard Tucker and David Johnstone of KordaMentha) and administrators (Tom Birch and Jeremy Nipps of Cor Cordis) on February 22.

Operations at Vulcan, 35km south of Moranbah, had been suspended in the previous. . .

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Coal quality test work confirms the Rolleston South project can produce a low-ash, export-quality coal product - a result Yari Minerals says significantly strengthens the commercial case for mining.

Yari (ASX: YAR) said the coal quality data underpinned the recently reported maiden indicated resource of 33.7Mt at Rolleston South, contributing to a total resource of 222.9Mt.

Mitra PTS undertook the testwork at its Gladstone laboratory, focusing on samples targeting the key "B" and "D" seams of the Bandanna Formation.

. . .

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Bowen Basin miner Vitrinite and related entities have gone into receivership, with the first meeting of creditors to be held on March 4.

KordaMentha’s Richard Tucker and David Johnstone have been appointed as receivers/managers, while Tom Birch and Jeremy Nipps from Cor Cordis have been named administrators.

A KordaMentha spokeswoman said Vitrinite owned Tier 1 coking coal assets but had been facing some challenges in ramping up production.

"Operations will continue on a BAU basis during the receivership and administration. The receivers will shortly begin a sale and recapitalisation process for the assets," she said.

The financial woes. . .

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Rail developer Martinus has signed a strategic memorandum of understanding with Bowen Basin coal producer Vitrinite to co-develop rail infrastructure and haulage solutions.

The agreement outlines a collaborative path to negotiate a long-term haulage contract and explore financing opportunities.

This includes the potential to tap the Northern Australia Infrastructure Facility (NAIF), with Infrastructure by Martinus also positioned to seek alternative funding solutions to unlock investment grade capital where required.

"Our focus in haulage is simple; deliver efficient, reliable, end to end services that work for the customer,” Martinus national haulage business development manager Lee Morrissey said.

"Working closely. . .

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A proposed bulk sample operation for Vitrinite's Callan coking coal project is moving through the federal approvals pipeline.

The company wants to extract a bulk sample of 942kt of coal from a target area within the project, 27km east of Dysart, over a period of two years.

It estimates that this work would employ 166 personnel on a 7/7 rotating roster and 10 personnel on a 9-day fortnight roster.

The primary objectives are to:

• Test coal quality and confirm product specifications through CHPP beneficiation and as a screened/unscreened product; and. . .

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Bowen Basin coal miner Vitrinite has marked the first use of its cutting-edge HW300 highwall miner at the Vulcan South site near Dysart. 

Vitrinite chief operating officer Michael Callan said there were only about 90 HW300 highwall miners in operation around the world. 

“Today marks the culmination of six years of research on the high-wall mining method, the HW300 unit and our resource conditions,” Mr Callan said. 

“The HW300 offers several key benefits for Queensland including reduced environmental impact, lower cost-efficient mining and enhanced safety and productivity. 

“We're very proud to have. . .

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Vulcan coal mine owner Vitrinite has signed a legally binding housing agreement with Isaac Regional Council that is hoped to pave the way for more such deals to 'futureproof' local communities.

The agreement establishes a housing committee to hold the company to their commitment and work together on identifying projects that increase housing stock in the Bowen Basin.

Mayor Anne Baker said she hoped the latest move by Vitrinite would inspire many other companies to follow suit.

“This housing agreement is a great example of a mining company walking the walk on social licence by putting pen to paper to. . .

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Bowen Basin coal miner Vitrinite's Vulcan South project is advancing through the approvals process.

Vitrinite plans to extract premium hard coking coal from three separate open-cut pits at Vulcan South, with an expected mine life of about seven years from mid-2026.

It will extract about 13.5Mt of run-of-mine (ROM) coal at a rate of up to 1.95Mtpa, according to project documents.

The Vulcan South site is adjacent to established mining operations including BMA’s Peak Downs and Saraji mines, and south of Vitrinite’s Vulcan coal mine.

A mine infrastructure area (MIA) will. . .

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Vitrinite has hit the ground running at its newly acquired Callan Coking Coal project, with drilling underway to identify a mineable target at the former BHP asset.

The company officially took ownership last month of the Bowen Basin project, formerly known as Picardy, which hosts a coking coal resource of approximately 570 million tonnes.

Vitrinite chief operating officer Mick Callan said the company saw the project, 27km from Dysart, as a good fit with its assets.

"It's one of the largest MDLs (mineral development licences) in Queensland. It has a big strike of Rangal coal through the middle of. . .

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Queensland's Vitrinite has taken out a national award with Barada Barna Aboriginal Corporation for their work to ensure the company's mining operations bring enduring benefits to the local community.

Vitrinite, which started mining at the Vulcan coking coal project in the Bowen Basin this year, was recognised with the AMEC Community Contribution award.

In announcing the win, the Association of Mining and Exploration Companies (AMEC) said Vitrinite and Barada Barna Aboriginal Corporation worked together with a particular emphasis on. . .

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Vitrinite is pushing ahead with plans for a 1.95Mtpa coking coal mine at its Vulcan tenements, 35km south of Moranbah.

The open-cut project has an estimated life of four years and is expected to employ 116 people at its peak.

Documents submitted as part of the project's Environment Protection and Biodiversity Conservation Act referral indicate mining is expected to start start as soon as October this year.

Prior to commencement of the Vulcan Complex Project, Vitrinite plans to extract up to 600 kilotonnes of coking coal. . .

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