BMA's Caval Ridge mine site at Moranbah was the host of the recent 2014 Outback Forum, organised by the Australian Institute of Company Directors (@AICDirectors). The Caval Ridge mine is planned to extract up to 5.5 million tonnes per annum of high quality hard coking coal (used in steel manufacturing). The Caval Ridge mine is operated as a joint venture between BHP Billiton and Mitsubishi Development Pty Ltd and employs approximately 600 employees and contractors.
Hanrick Curran partner, Matthew Green, was an interested tour participant, enjoying inspecting the workshop, dragline and high-wall sites. Matthew commented that the tour "helped deepen our Firm's understanding of the coal mining industry as there is no substitute for getting your boots dirty." Matthew really enjoyed the tour of the workshop, stopping to snap some pictures to share with some of his clients when he sees them next.
With industry estimates of 100 years of coal production in Queensland's Bowen Basin, coal mining will continue to be a key sector of our local economy for the next 30 years and Hanrick Curran are committed to continuing to advise our clients who operate throughout this industry.
While spot coal prices have declined from recent highs, on a ten year basis, coal prices are still up 16.4% based on information available at the IndexMundi website. In coming years, the Australian coal industry will need to continue to address productivity, cost competitiveness and technology disruption so as to remain competitive in international markets.
To discuss your coal industry business, contact Hanrick Curran's mining team on (07) 3218 3900.
Fig 1: Australian monthly thermal coal price (US$ per metric ton)
Coal, Australian thermal coal - Monthly Price - Commodity Prices - Price Charts, Data, and News - IndexMundi
10/11/2014 12:02 PM - Screen Clipping