Sydney Mining Club Lunchtime forum
August Sydney Mining Club presents: ‘Coal! Back on the Political Map’
Stuart Bocking is back in August with the now-high-performing Coal Australia peak body plus two strong coal producers - Rob Bishop CEO New Hope Group and Andrew Boyd CEO Q Metco.
Always well attended, this coal show is sure to pump some energy into your winter. After various Minerals Councils became squeamish about promoting coal, Nick Jorss gave breath to Coal Australia, and new Executive Director Stuart Bocking, a former Chief of Staff of a NSW Premier, has launched it into orbit scoring big support in Canberra as the energy worm continues to turn.
New Hope Group (ASX:NHC) has a market cap over $4bn and produces coal in the Hunter at its flagship Bengalla operation and where its 26% holding in Malabar has recently seen the first longwall shears warming up to take over from the bord and pillar. In Queensland New Acland is a smaller and steady producer. Apart from State of Origin night – which must be a tough one at New Hope - shareholders have got solid dividends and have seen a share buy back and debt being retired – good times.
Up by Rockhampton QMetco operates its Foxleigh Mine in Joint venture (70%) producing 2.6Mt of premium PCI coal from an excavator truck and shovel opencut, and selling product out through Dalrymple Bay into South Korea, Taiwan and Japan markets. QMetco is 100% owned by Taurus Funds Management (also a proud sponsor of your Club) and squarely faces the force of Queensland’s outlandishly high coal royalty regime.
