Maules Creek coal fetches a premium from Asian buyers

THERMAL coal from Whitehaven Coal’s Maules Creek open cut coal mine in New South Wales achieved a 7% premium over Newcastle benchmark price in H1 FY2016, the company said in a recent presentation.
Maules Creek coal fetches a premium from Asian buyers Maules Creek coal fetches a premium from Asian buyers Maules Creek coal fetches a premium from Asian buyers Maules Creek coal fetches a premium from Asian buyers Maules Creek coal fetches a premium from Asian buyers

Maules Creek image courtesy of Whitehaven.

Lou Caruana

“Whitehaven produces some of the highest quality coals sold in the Asian region,” it said.

“These high yielding, high quality coals are sold into the premium Asian seaborne markets.

“As countries strive to reduce their carbon emissions and use highly efficient low emissions (HELE) technology, they need and use higher quality coals.”

The expected sales mix will be 50% thermal and 50% met coal when mine is fully ramped up in CY2019, the company said.

“Construction is largely completed with capex savings of $50 million on a budget of $767 million,” it said.

“The mine is permitted to 13 million tonnes ROM with 12Mt saleable.

“The mine operated at 8.5Mtpa rate in December 2015.”

FOB Costs averaged A$58/t in H1 FY2016.

An infill drilling program is underway to convert resources to reserves at the mine.

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