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- Queensland-based exploration company Bowen Coking Coal (BCB) ships the first coal from its Bluff Mine
- Around 35,000 tonnes of coal was shipped from the RG Tanna Coal Terminal in Gladstone last week under a sales contract with Formosa Plastics Group
- Bowen Managing Director and CEO Gerhard Redelinghuys says the shipment marks a significant achievement for BCB as it transitions into a coal producer
- Further sales have been committed for August and September, and as such, production is set to ramp up at the Bluff Mine to between 80,000 to 100,000 tonnes per month
- Company shares are up 4.44 per cent, trading at 23.5 cents at 2:08 pm AEST
Queensland-based exploration company Bowen Coking Coal (BCB) has shipped the first coal from its Bluff Mine.
Around 35,000 tonnes of ultra-low volatile pulverised coal injection was shipped from the RG Tanna Coal Terminal in Gladstone last week under a sales contract with Formosa Plastics Group.
The sale was agreed under a 50/50 marketing joint venture with Bowen and specialist metallurgical coal trading company M Resources.
Bowen Managing Director and CEO Gerhard Redelinghuys said the shipment marks a significant achievement for BCB as it transitions into a coal producer.
Further sales have been committed for August and September, and as such, production is set to ramp up at the Bluff Mine to a steady state run-of-mine target of 80,000 to 100,000 tonnes per month by the end of August.
If this target is achieved, it would equal an annualised production rate of between one million and 1.2 million tonnes per annum over four to six years to supply the global steel industry.
The Bluff Mine is located in the Central Highlands Region of Queensland and was acquired by BCB in December 2021.
Following the purchase, the company completed preparation works ahead of the first coal being mined in April.
Now, the company is working to remove overburden for a pit extension and has mobilised a third machine to site to assist with this work.
Company shares were up 4.44 per cent, trading at 23.5 cents at 2:08 pm AEST.
