Australia coal news

A new report by the Australian Government has highlighted Aurizon’s “risk” to a record outlook for the resources sector.

Works include mine planning, drill and blast, overburden removal and coal mining at the Northern Hub, which produces hard metallurgical and thermal coal.

Coal mining company Universal Coal has increased expected EBITDA for FY2018 by 27%, up to AUS$70 million.

The troubled rail firm believes controversial changes to its maintenance regime in Queensland will reduce the state’s coal haulage capacity by 20 million tpy in 2019.

Prior to the transaction, Maylion, an indirect wholly-owned subsidiary of Noble Group, held a 40.9% shareholding in EER, a coal exploration and development company.

“Aurizon must stop playing games with Queensland exports and revert back to normal rail maintenance,” says QCA.

Xcoal exported around 3.5 million tpy from Australia in 2017 and plans to increase this fivefold over the next few years through offtake agreements and investments in smaller mining projects.

In the Queensland Resources Council’s latest State of the Sector report, 52% of resources chiefs said they would increase employment over the next quarter with 13% looking to increase employment ‘substantially.’

The contribution from mining royalties to the NSW Budget “highlights the importance of mining and its vital contribution to state and national economies,” says Minister for Resources and Northern Australia.

We are now only a few days away from Aurizon announcing its decision on its rail maintenance.