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Bowen Coking Coal (ASX:BCB) dispatches first coal shipment from Broadmeadow East

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ASX:BCB      MCAP $207.6M
25 October 2022 18:14 (AEST)

First coal being loaded from the Company’s Broadmeadow East pit near Moranbah, Queensland. Source: Bowen Coking Coal

Bowen Coking Coal (BCB) has dispatched its first coal from the Broadmeadow East mine (BME) to the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.

The train containing 10,426 tonnes of coal has been sold under a spot arrangement with the company’s half-and-half split marketing joint venture with M Resources.

A further three trains carrying approximately 30,000 tonnes of BME coal are scheduled to be railed to the DBCT in the coming week.

While Bowen’s own facility is being refurbished, initial sales are being completed through Fitzroy’s Carborough Downs facilities.

Managing Director and CEO Gerhard Redelinghuys said the shipment of Bowen’s first coal
from BME was yet another significant achievement for the company, following shipments from the Bluff Mine earlier in the year.

“It also demonstrates the company’s technical ability by bringing two mines into production in one year, whilst simultaneously refurbishing the Burton Complex,” he said.

“It is a marvelous achievement for the company, demonstrating our ability to move quickly and overcome obstacles as we ramp up to our production target of five million tonnes run-of-mine (ROM) coal per annum by 2024.”

BME is the first pit to come on-line as part of BCB’s greater Burton Complex in Queensland’s Bowen Basin.

Coal production commenced at the BME pit in July this year and is expected to ramp
up to steady-state production of between 800,000 tonnes per annum (tpa) and 1.1million tpa ROM in the next quarter.

The company believes the shipment further cements it as Queensland’s next independent coal producer.

Shares in Bowen were down 4.55 per cent to close at 31.5 cents.

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