The Australia-owned, New Zealand-focused company moved its shares and headquarters across the Tasman in July and is quickly leaving its footprint on its new soil by acquiring Canterbury Coal, an open cast mine near Christchurch.

The company won a three-year sales contract with a local dairy processing plant while performing due diligence on the mine.

The mine produces thermal coal and will start at levels up to 50,000 tonnes per annum.

It is forecast to grow to 100,000tpa over the next few years to meet dairy and industrial demands in the region.

Bathurst will pay $450,000 on final settlement and another $150,000 12 months after settlement, for the mine.

The purchase is conditional on consent to assignments of various permissions and the consent of the energy minister to the transfer of the permit.

Bathurst managing director Hamish Bohannan said the acquisition and supply contract underpinned the growth of the company’s domestic sales.

"Coal demand in the Canterbury area is set to grow to over 150,000 tonnes per annum in the short term.

"The proximity of the mine to these markets gives us a distinct freight advantage over our competitors to target this growth potential."

Bathurst is also negotiating a 50% stake in the Kenroll coal yard in Rolleston, which it said it would rename Bathurst Industrial Coal.

Bathurst said the deal would supply a consented coal yard, plant and equipment, weighbridge and screening facilities.

The company recently received the Environmental Court’s approval for its main focus, its Escarpment mine on the Denniston Plateau, after almost two years of legal battles with environmental groups.