Stanmore Coal inks Belview coking coal funding, marketing deal

Australia’s Stanmore Coal has secured exploration funding for its Belview coking coal project in Queensland, the coking coal junior said on Monday December 30.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

Stanmore will receive A$680,000 ($604,285) – from Japan’s diversified industrial conglomerate Taiheiyo Corp and Japanese government body, the Japan Oil, Gas &Metals National Corp – to undertake drilling and core sample analysis at Belview, the miner said.

Under the funding arrangement, Taiheiyo is entitled to purchase up to a total of 100,000 tonnes of coal over the first three-year period of Belview’s operation at a A$2 ($1.77) per tonne discount to the benchmark Japanese settlement price, concluded between major Japanese mills and BHP Billiton.

Stanmore expects to produce a hard coking coal and secondary pulverised coal injection product from the project, which is located in Queensland’s coal-rich Bowen Basin region.

Drilling associated with the agreement has commenced and is expected to be concluded in the first quarter of 2014, Stanmore said.

What to read next
Chromite prices rose further in the two weeks to Tuesday May 31 on support from cost pressures and logistical issues in South Africa
UG2/MG chrome ore prices experienced major declines in the week to Tuesday July 12, dropping by $15 per tonne week on week, as the market saw the beginnings of a break in the continuing stalemate of recent weeks
The European charge and high-carbon ferro-chrome benchmark for the third quarter of 2022 has slumped by 16.7% from the previous quarter’s settlement to $1.80 per lb
Executives at major flat-rolled steel producers in the United States discussed three common themes during their companies’ earnings calls for the second quarter of 2022, sharing views on a potential recession, affects from recent government policy changes and trends in steel raw materials
Following a consultation period and market feedback, Fastmarkets will switch its Houston ferrous scrap price series to a consumer buying assessment on January 1, 2023, from its current methodology as a dealer selling assessment.
Austrian aluminium producer AMAG and German automotive manufacturer Audi have developed a recycled aluminium material for vehicle wheels to be put into series production, it was announced on Wednesday, August 3.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed