BCC plans on 5Mtpa of coal by 2024

BOWEN Coking Coal is targeting 5 million tonnes of run-of-mine coking coal production by 2024 from its suite of Queensland based mines.
BCC plans on 5Mtpa of coal by 2024 BCC plans on 5Mtpa of coal by 2024 BCC plans on 5Mtpa of coal by 2024 BCC plans on 5Mtpa of coal by 2024 BCC plans on 5Mtpa of coal by 2024

Bowen Coking Coal executive chairman Nick Jorss.

BCC executive chairman Nick Jorss told the company's annual general meeting that first production was on course for 2022.

"Three recent acquisitions have propelled BCC's transition to production," he said.

After acquiring Broadmeadow East from Peabody in Energy in 2020, BCC entered into a binding agreement to acquire New Hope's majority interest in the New Lenton joint venture in August and forged a binding agreement with MACA Limited to acquire the Bluff pulverised coal injection mine.

"[The company has a] clear pathway to production, supported by outsourced mining operations and infrastructure sharing arrangements," he said.

"It has high-quality coal reserves in the Bowen Basin, with an attractive product mix favouring metallurgical coal."

Jorss said BCC had a management team with extensive global coal operations experience and was funded to start operations at its two first projects through $15 million in debt funding facility and cash of approximately $24 million.

"Completion of the Bluff and Lenton JV transactions will add near-term producing assets to BCC's portfolio and further accelerate cash flows," he said.