Project Manager: QCoal – ASX:Not Listed
Project Owner: QCoal
Stage: Feasible What does this mean?
Soaring coal prices will stay strong through the Australian summer according to Whitehaven Coal chief executive Paul Flynn, who believes China’s recent supply cuts have signalled a long-term floor in the commodity price.
Speaking after coking coal prices rose by 7 per cent on Tuesday to continue their extraordinary rally, Mr Flynn said the crucial quarterly contract prices for coal would be higher in the first quarter of 2017 than the bumper prices set for the current quarter. Continue reading
During Tuesday’s sitting, legislation to ban 100% fly-in-fly-out (FIFO) mine workforces will be introduced into Queensland’s hung parliament. Continue reading
Subject to strict conditions, a proposal to extend Peabody’s Wilpinjong coal mine has been found in a preliminary assessment that the project is approvable. Continue reading
The Integra underground mine has been on care and maintenance since July 2014 and Glencore has continued to assess options for a restart against global coal market conditions, Glencore Australian coal operations head Ian Cribb said.
“The Integra mine has one longwall block already formed, providing an opportunity to begin mining with minimal delays or additional investment,” he said.
“Over the next two years, we also plan to complete and extract coal from a second longwall block that has already been partially developed at the mine.”
Glencore expects to produce 1.3 million tonnes of high fluidity saleable coking coal at Integra in 2017 to meet a specific need identified in the metallurgical coal market.
With a number of Glencore’s thermal coal mines having recently closed or reaching the end of their scheduled mine life, production at Integra is not expected to increase the company’s overall coal sales from Australia.
“Glencore will manage the mine and we are working towards an early 2017 restart,” Cribb said.
The news comes around three weeks after Glencore said it would restart its Collinsville mine in Queensland amid improvements in the coal market.