CAPITAL MARKETS

BHP to shake up its coal interests

SPECULATION that Broken Hill Proprietary may be contemplating a takeover bid for Australian coal ...

Greg Tubby

QCT, already partner with BHP in two Queensland coal joint ventures, has been seen as a takeover target since Santos said it was reviewing its 36% stake in the company.

The Queensland company has a 32.4% stake in both the Gregory and Central Queensland Coal Associates joint ventures, while BHP holds a 64.1% interest in Gregory and 52.1% in CQCA. The other major stakeholder in the projects is Japan’s Mitsubishi Corp.

Although Queensland’s coal industry set new records in 1999-2000, QCT ended fiscal 1999 on a low, with fourth quarter shipments falling 16% to 3.82 million tonnes, largely because of ongoing problems at its Kenmare longwall mine, 80km south-east of Emerald in Queensland.

“Shipments from South Blackwater continue to reflect reduced production at the Kenmare underground mine, where longwall mining in the first C seam block ceased in late March in preparation for longwall relocation,” the company said.

The CQCA and Gregory joint ventures shipped 8.18Mt tonnes for the last quarter.

 

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.