The New South Wales-based producer is targeting Asian markets that have traditionally paid premium prices for high quality Australian coal, the company said.
“High quality coal combined with increasing demand from new and upgraded generating capacity in these countries underpins our planned production and sales growth,” it said.
“Every South East Asian country, as well as our traditional markets of Japan and Korea, is adding electricity generating capacity.
“South East Asia is the region where demand for coal and coal’s share of primary energy demand is widely forecast to increase throughout the forecasting horizon to 2040.”
Coal demand in the region is expected to increase by over 400Mtpa by 2040 providing ample opportunity for Whitehaven to increase sales from its long lived mines, the company said.
“Whitehaven is also actively targeting Malaysia and Vietnam as growth markets for the high quality Gunnedah Basin coals,” it said.
Malaysia recently completed the construction of its first “ultra super-critical” power station and “ultra super-critical” generating capacity technology is planned to be added to the South East Asian generating fleets