BBMC Yearbook 2024

Policy and progress | The future of the Bowen Basin BBMC Updates | Lessons from the energy transition Industry Evolution and Adaptation BBMC Yearbook 2024

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yearbook 2024 EDITOR Jodie Currie jodie@bbminingclub.com CONTENT CURATORS Sarah-Joy Pierce sarahjoy@strategicminingcomms.com Debbie Wolhuter deb@joyfulcommunications.com.au GRAPHIC DESIGN Holly Williams holly@kingstcreative.com.au ADVERTISING yearbook@bbminingclub.com WEBSITE www.bbminingclub.com/yearbook FIND US ON FACEBOOK & LINKEDIN Search 'Bowen Basin Mining Club'

CONTRIBUTING WRITERS Janette Hewson, Tania Constable, The Hon. Dale Last MP, The Hon. Madeleine King MP, Michelle Manook, Kim Wainwright, Warren Pearce, Adam Lancey, Mick Crowe, Nick Jorss, Matthew Anderson, Damian Clarke, Meg Morgan, Matt Latimore, Barry Tudor, Marcelo Matos, Danny McCarthy, Paul Flynn, Rohitesh Dhawan, Ngaire Tranter, Dr Kieren Moffatt, Dr Sandy Worden, Associate Professor Sarah Holcombe, Professor Arn Keeling, Shane McDowall, Melanie Laas, Anton Guinea, Jeff Sterling, Matthew Wakeford, Adam Battista, Previn Pillay ON THE COVER Image credit: Hastings Deering Professional images throughout supplied by: Pure Gold Films Turnbull Photography Anglo American BHP Bravus Mining and Resources Hastings Deering Pembroke Resources Thiess Whitehaven

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DISCLAIMER The Bowen Basin Mining Club Yearbook is published by the Bowen Basin Mining Club Pty Ltd, PO Box 2620, Chermside Centre QLD 4032.

Every effort has been made to ensure that the information contained in this publication is accurate at the time of publication (December 2024). The Bowen Basin Mining Club and its agents accept no responsibility for the accuracy or completeness of the contents and accepts no liability in respect of the material contained in the yearbook.

The Bowen Basin Mining Club recommends that users exercise their own skill and care in evaluating accuracy, completeness, and relevance of the material and where necessary obtain independent professional advice appropriate to their own particular circumstances.

In addition, parties, their members, employees, agents and officers accept no responsibility for any loss or liability (including reasonable legal costs and expenses) or liability incurred or suffered where such loss or liability was caused by the infringement of intellectual property rights, including the moral rights, of any third person.

BBMC Yearbook 2024

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Contents From the Editor

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BBMC UPDATES

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2024 BBMC luncheons

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POLICY AND PROGRESS

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The 2024 Queensland Mining Awards

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Proudly resourcing Queensland

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2024 BBMC Crib Room Podcast

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MINERALS+

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A fresh start for Queensland's resources sector

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LESSONS FROM THE ENERGY TRANSITION

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Australia’s resources sector remains the engine room of our economy

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The decarbonisation opportunity for metals and minerals

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The Coal Coma

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Preparing for the next surge: the need for increased drilling in Queensland's resource sector

Applying ESG fundamentals from boots to boardroom

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A fair go: mining communities negotiating a ‘just transition’

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How do Queensland’s mine closure regulations stack up on the social front?

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INDUSTRY EVOLUTION AND ADAPTATION

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THE FUTURE OF THE BOWEN BASIN

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Let’s not ignore mining and exploration amid heightened global tensions

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Queensland’s leaky resources pipeline: how stability and simplicity can restore the flow

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Outpouring of solidarity: how Bowen Basin united for Grosvenor Mine

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Powering tomorrow: the essential role of Queensland’s steelmaking coal

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Mining in the digital age: using social media to influence the future

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The pitfalls of taking coal for granted

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The year that coal fought back

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Leading a multigenerational workforce in the mining industry

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Will a new energy policy for Queensland help or hinder mining in the Bowen Basin?

Interoperability: the new oil for mining

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Securing Australia's critical minerals future: navigating the intersection of national security and foreign investment

Mining’s digital evolution: delivering technology for safety and sustainability

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Mining's $13.7 billion question: exposing Queensland's surety accessibility issues

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Growth and diversification: supplying steelmaking raw materials

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Evolving the Bowen Basin: a new era for sustainable mining

Building a safer future in tailings management: progress, challenges, and opportunities

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Foundations first: driving growth in a challenging economic environment

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Australian coal – the essential resource for building nations and powering economies

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Getting the balance right so the Bowen Basin can continue to thrive

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BBMC Yearbook 2024

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From the Editor jodie currie

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f I were to describe the state of the Bowen Basin at the end of 2024, it would be ‘hopeful’. It’s been a significant year, through a state election, ups and downs in the coal price, assets changing hands, a devastating series of fatalities and the ongoing tussle with coal’s role in a net zero future. But there are three themes that stand out to me as I review the excellent thought leadership in these pages: the role of our contribution, our competitiveness, and the community.

On the sector’s contribution

On the importance of competitiveness

You don’t have to look far to see evidence of our industry’s significant contribution to Queensland and beyond.

Quite literally, we lead with it in the Queensland Resource Council’s article right on page 7. From the regions to the state’s biggest mining town – Brisbane – mining’s importance and contribution is clear. Statistics on the sector’s economic contribution are quoted repeatedly in the pages of this Yearbook – but don’t turn off when you read them. $120.2 billion for Queensland’s economy, 1 in 6 jobs in the state, or 24% of the revenue of Queensland…the sheer number of people pointing these statistics out means something – you should know these numbers and refer to them often.

They provide a tangible measure of the mining industry’s importance to Queensland.

Competitiveness is another key theme that’s come through in this year’s content: from the Minerals Council of Australia’s call for an investment in value-adding to increase our competitive advantage (page 12) or the Queensland Exploration Council’s advice to increase drilling to unlock Queensland’s potential in critical minerals (page 22).

While we can sometimes be an industry that ‘talks to ourselves’, in a selfcongratulatory or an advocacy sense, this year has seen a shift in how we advocate.

Some of the articles in this Yearbook are ‘preaching to the choir’…but sometimes the choir needs to hear it! I encourage you to go one step further – don’t just hear about the mining industry’s contribution, but internalise it and make it a regular part of your conversations.

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BBMC Yearbook 2024

Leveraging policy to keep our sector competitive is now the leading focus of calls to update the state’s royalty scheme, as well as advocacy for longterm stability and investment attraction – themes that have been discussed throughout the year.

Adam Lancey’s call to action on longterm thinking for long-term impact (page 32) echoes the sentiment I’ve heard shared most recently at the BBMC November panel discussion (page 68) – while policy settings may not change overnight, the industry is prepared to think with a long-term mindset and have the conversations now that will inform a positive and competitive long-term future for the Bowen Basin.

On the ways the sector is impacting communities Danny McCarthy’s examination of coal as an essential resource for powering economies gives a fantastic perspective (page 54), as TerraCom have

experienced in restarting Queensland’s oldest open-cut coal mine at Blair Athol, and expanding that presence to manage and mine the nearby Moorlands coal operation. This is a shining example of a company thinking differently about an asset and finding additional productivity that makes a big difference to the communities around the operation. From the oldest mine to the newest player in the Bowen Basin, Whitehaven Coal’s acquisition of Daunia and Blackwater was another significant milestone for communities in the industry (page 56).

Whitehaven’s ethos of building lasting relationships can be seen in events like their Blackwater Community Open Day in November – a great success by all accounts.

The coal community has found its voice this year too, with Coal Australia joining (and amplifying) the conversation.

There’s some fascinating statistics presented by Nick Jorss on page 38, and some interesting data from a CSIRO survey of attitudes towards mining (page 90) – both speaking to the strong support for coal in regional Queensland.

As you read this Yearbook, consider the influence your role can have on the mining sector’s contribution, its competitiveness and its community impact. The first step is to continue advocating for the good work that we do, and taking the ideas within these pages through to action. 

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Policy and progress Policy and Progress

Image: Pure Gold Films

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BBMC Yearbook 2024

Policy and progress

Proudly resourcing Queensland Janette Hewson, Chief Executive Officer Queensland Resources Council

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he need for a shared and long-term vision for our future has driven many of the changes we’ve seen in Queensland this year.

It culminated in the election of a new LNP Government when Queenslanders, particularly those in the regions, voted to take our state on a new course. Change has also come to our sector, with new policies and regulations at both State and Federal levels that will have ripple effects for many years to come.

I’m very proud to now be representing an industry that, while navigating these changes, is still supporting the jobs of hundreds of thousands of people and is home to so many good, hard-working people.

Queensland’s resources sector is built on our partnerships with regional communities and organisations whose support ensures the continued success of our industry and its ability to provide benefits for all Queenslanders.

Queensland Resources Council and our members are grateful for the support from the Bowen Basin Mining Club, and I congratulate you on another successful year.

Economic contribution Through all the changes, one thing has remained constant.

The resources sector has continued to underpin Queensland’s economy, providing prosperity, jobs and services to everyday Queenslanders.

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Just how much our industry means to the state was again confirmed by the Queensland Resources Council (QRC) in our 15th Annual Economic Contribution Report. For the fifth consecutive year the resources sector delivered a record contribution to Queensland and in 2023-24 this was set at $120.2 billion.

The big numbers unearthed in recent years have historically grabbed headlines for all the right reasons, especially when the economy gets a boost and records are made.

The figures will have a ripple effect of pride and satisfaction across our industry, especially among the 62,000 Queenslanders currently working in resources jobs.

Whether it’s from the government services and infrastructure supported by the $12.8 billion in resources royalties or one of the 17,000 local businesses, sports clubs and charities benefiting from the nearly $36 billion spent by resources companies, collectively, our resources sector accounts for one of every four dollars spent in Queensland and supports one in every six jobs.

Of course, much of the wealth generated by the resources sector comes from the world-famous Bowen Basin.

Our Economic Contribution Report again confirmed the importance of the resources sector to the Mackay region to Queensland, which includes the Isaac, Whitsunday and Mackay local government areas.

Image: Turnbull Photography

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BBMC Yearbook 2024

The $16.1 billion generated by the resources sector is 63% of the local gross regional product in the Mackay region which is also home to the 75,936 jobs our industry supports. It’s why QRC

Of the total $120.2 billion statewide contribution, 71% was generated by our coal industry, 14% from oil and gas, 11% from metals and the remaining 4% from other commodities and energy. The report reinforced just how important the coal sector is to Queensland and sustained global demand suggests it will remain so for many years to come.

Advocacy in Queensland The prosperity our sector brings to Queensland reinforced the key election priorities the QRC took to all political parties and candidates ahead of the October election. Our priority issues are important to ensuring sustained growth of the resources sector so that all Queenslanders can share equally in the social and economic benefits our industry generates.

QRC’s priorities remain as we engage an incoming government:

• Competitiveness and stability for our sector • Fair return for the regions • Skills for the future • Energy security, diversity and transition.

QRC and the industry are committed to working collaboratively with the incoming government and ensuring resources are central to a shared longterm vision for our state.

There are signals that our sector will once again be consulted and acknowledged for the important role we play in Queensland’s future. The LNP's commitment to a Resources Cabinet Subcommittee is an important step in improving the complicated and lengthy approval process for new projects. With input from our members, QRC has developed a Streamlining Report to engage with the government to remove duplication and excessive regulation across departments and jurisdictions.

For our sector to continue proudly resourcing the regions, we need decisions and policy settings that

Call Hastings Deering on 131 228 or scan here to find out more

encourage investors to do business in a competitive and healthy Queensland market, creating a sorely needed pipeline of projects. The approvals process can be streamlined and still give confidence to Queenslanders that the world’s highest environmental standards are being maintained. It’s often forgotten that the record economic benefits we’re seeing today are the result of investment decisions made 10 and 20 years ago.

Over the last two years, QRC’s Keep Queensland Competitive Campaign has highlighted the threat to investment and jobs from the decision to introduce the world’s highest coal royalty tax rates. Our communities understand the concerns of industry and the importance of ensuring responsible mining continues in Queensland, now and into the future.

Our research revealed that more than half of the Queenslanders we surveyed believe that change is necessary when it comes to the current royalty regime, and we are at an all-time high of support for the sector, with almost two-thirds of regional Queenslanders favourable to the sector.

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Policy and progress

advocates so strongly for our sector to protect, grow and diversify jobs in regions like Mackay and many others throughout Queensland.

Looking Ahead

The QRC was awarded $500,000 in 2024 under the Regional Economic Futures Fund to deliver alternatives for post-mined land through renewable energy.

There are many reasons to be positive about the long-term future for Queensland’s resources sector, particularly for the Bowen Basin.

Our State of the Sector surveys of our member company CEOs consistently show that there is confidence in continued global demand for all Queensland commodities including coal, gas, metals and critical minerals. The premium coal produced in Queensland will be essential for our trading partners to build the infrastructure they need over coming decades, and to provide energy security.

If governments at all levels can get the policy settings right to provide confidence to investors that Queensland is open for business, we are wellpositioned to underpin our state’s prosperity and create more jobs for generations to come. Beyond the economic prosperity, we will also continue to drive better outcomes for the environment whether it be minesite rehabilitation, emissions reductions or environmental stewardship.

Over the course of 2024, I have enjoyed travelling to regional centres where we’ve held some of our signature Resources Roundups events. Mackay, Rocky, Emerald, Townsville, and Roma are just a few regional centres visited this year. The QRC was welcomed by our many regional partners and the hard-working people in our sector who make up these regional communities.

On behalf of our members, thank you for your continued support in making the Queensland resources industry successful.

QRC and the industry are committed to working collaboratively with the incoming government and ensuring resources are central to a shared long-term vision for our state.

I look forward to visiting more of our state’s great resource regions in 2025 and sharing in our sector's successes. 

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MINERALS+ Tania Constable, Chief Executive Officer Minerals Council of Australia

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n Australia that wants to build things again starts with a strong and productive mining industry.

Without mining investment, our future will not be 'made in Australia'.

Mining investment matters for the future prosperity of all Australians. It adds to the nation. By adopting a proactive approach to mining’s growth, expansion and diversification, Australia can create more.

Good policy is critical to creating an This is the heart of a Minerals-plus strategy.

Minerals Council of Australia’s report, internationally The Minerals-plus: An investment strategy a resource-intensive future, sets out a competitive for comprehensive strategy to support Australian cost base to industry's successful integration into fastgrowing, high-demand global supply chains. attract mining The Federal Government has an ambition reshape the nation as a renewable energy investment. tosuperpower and move up the value chain of clean energy technologies, such as battery production, renewable hydrogen and green metals.

To achieve this ambition, it is critical to recognise that there will be no downstream processing or moving along the value chain without a strong, vibrant mining sector. It’s where it all starts.

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BBMC Yearbook 2024

But there are challenges. Mining capital stock has not grown for the last seven years. The issue is not a shortage of potential projects, but rather a challenging business environment for proponents committing to investment.

This is occurring at a time when Australia should be playing a much greater role in the global clean energy transition.

Geopolitical and geoeconomic conditions, combined with the race to net zero, are shifting the role of governments. Policies that are being implemented in many countries, including Australia, aim to realign national and economic security interests and capture economic opportunities from the growing demand for clean energy and advanced technologies. In this landscape, industry policy can strengthen and create comparative advantages.

Standing alone, however, industry policies do not guarantee sustainable economic benefits.

To build new comparative advantages requires an ongoing commitment to productivityenhancing policies. In turn, this enables new comparative advantages in downstream activities, such as minerals processing, refining and mining-related manufacturing.

Good policy is critical to creating an internationally competitive cost base to attract mining investment. Policies and regulations must enable markets to efficiently allocate resources to where they are most valuable and address weak links between the complementary activities of productive

Policy and progress

Image: Pure Gold Films

sectors. This is important owing to mining’s strong and extensive linkages to supply chains for goods and services and the significant contribution to economic and productivity growth this generates.

There is no single lever for improving mining’s productivity. To unblock the investment pipeline, policy must aim to continually improve investment conditions. This includes delivering internationally competitive tax settings, expanded trade and investment opportunities, efficient regulatory settings including faster environmental planning, productive workplace arrangements that balance worker and employer needs, an efficient transition to net zero and industry-focused skills and training.

The Federal Government can help unlock private sector mining investment through well-targeted policies and public investment to augment private capital.

There are many ways to do this. In some cases, sticking to current policy will make a difference. Providing certainty on policy settings, such as retaining the fuel tax credit scheme, can improve the investment environment or retain existing investment.

Small changes can do a lot too. Helping junior explorers find the mines of the future, or making it easier for project proponents through an effective single

front door, or more efficient state and federal approvals processes, are some of these ways. In other cases, making sensible changes to avoid duplicative and overlapping federal and state emissions reduction policies can dramatically improve the investment outlook.

There is also a case for government to play a greater role. Crowding-in investment by creating new markets through strategic partnerships for mining, minerals processing and refining; and providing common user infrastructure will attract new investment and open new mineral provinces. All government interventions should be measurable, accountable and selected to ensure economy-wide benefits, including for host communities.

productivity, and jobs, we must also strengthen, build on, and leverage the industries that Australia is good at and in which the nation has a demonstrated comparative advantage.

Minerals-plus is an investment strategy that further enables mining to achieve this. Doing otherwise risks foregoing opportunity and putting Australia on a pathway to lower living standards.

Scan the QR code below to download. 

The opportunity before Australia is unprecedented. While Australia already adds significant value to its resources, there are opportunities for further integration into global value chains for technologies such as batteries, permanent magnets and semiconductors.

But these opportunities will only be realised with a strong, internationally competitive mining industry.

This is the time to build on the success of capital-intensive sectors such as mining. While Australia should always seek out new and innovative economic opportunities to boost growth,

BBMC Yearbook 2024

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A fresh start for Queensland's resources sector The Hon. Dale Last MP, Minister for Natural Resources and Mines

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n the wake of the recent change in State government from Labor to the Liberal National Party (LNP), the new Minister for Natural Resources and Mines, the Hon. Dale Last MP has made it clear: under the LNP, business will benefit from a fresh approach to working with government.

Speaking at the 2024 Queensland Resources Council Luncheon, Mr Last explained the LNP’s priorities for reinvigorating an industry critical to Queensland's prosperity, while simultaneously addressing the complex challenges of environmental sustainability, future energy infrastructure and workforce development. Firstly, he acknowledged the economic significance of the resources sector.

Resources: Queensland’s economic backbone "This is the sector that puts money into the bucket," he said - a statement that resonates particularly in regions like the Burdekin, Mr Last’s electorate for many years, and where over 60% of Queensland's coal mines daily demonstrate the impact of the sector on local mining communities and economic productivity.

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BBMC Yearbook 2024

More than just a statistical powerhouse, over 70,000 Queenslanders work in the resources sector, while its economic reach extends far beyond direct employment into local communities, supporting businesses and underpinning state revenue.

The government's approach marks a dramatic departure from previous administrative models. The Minister stated, “No longer will projects and opportunities languish for years without a decision from the Government.

Industry, investors, and communities will get a clear message from us. It's a yes or it's a no.

There will be certainty one way or the other.”

The government intends to signal to investors and industry stakeholders that Queensland is serious about facilitating growth.

As publicly stated before and after the election, the LNP Government will maintain the existing mining royalty regime. However, the government is committed to openly sharing their vision for the future of the resources sector and keeping to their word to provide an economic environment built on clarity, certainty and consistency.

A strategic approach to approvals and investment At the heart of this new approach is the newly instituted Resources Cabinet Committee—a high-powered body to improve consultation with the sector and encourage investment in our resources. The committee will bring together the Minister for Resources, the

Queensland is open for business.

Another strategic change is the government’s proactive approach to clearing a substantial backlog of renewal license applications, some dating back to 2019. Six approvals had already been granted in the first three weeks of the new government under existing environmental standards. The message is unambiguous: decisions will be timely, transparent, and grounded in thorough assessment.

Minister Last explained, “If we're serious about bringing investors to this State, we want to give them the certainty that that approval process will be streamlined, that it will be efficient, that those decisions will be made in a timely manner. You need that certainty, and we owe you that certainty as a government here in Queensland.”

Image: Bravus Mining and Resources

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Policy and progress

Treasurer, the Minister for Environment and the Deputy Premier who has responsibility for state planning. Meeting monthly, this committee will represent an unprecedented level of crossdepartmental collaboration designed to identify and dismantle systemic obstacles to resource sector development.

Image: Thiess

“To further underpin our commitment to certainty, our Government will foster a taxation and regulatory environment built on stability and which will deliver strong investor confidence in Queensland. We want our investor partners back, and for them to know that Queensland is open for business. We'll create the economic environment where existing Queensland businesses and industries can expand and grow.”

Balancing development and the environment Environmental considerations remain paramount in the government's approach. For example, the government is planning a nuanced strategy for regions like the Lake Eyre Basin, where multiple interests—mining, cattle farming, tourism, and conservation— must coexist harmoniously.

Queensland's energy and infrastructure roadmap The government's future energy strategy focuses on creating an affordable, reliable, and sustainable energy mix that supports Queensland's economic growth. At the heart of this approach is a commitment to balancing existing infrastructure with forward-looking investments: • Public asset management The administration will implement an electricity maintenance guarantee on government-owned coal-fired power plants, emphasizing full transparency and accountability of maintenance requests. With approximately 6 gigawatts of government-owned supply available in the market, the focus is on ensuring these existing assets are run reliably and responsibly.

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BBMC Yearbook 2024

• Renewable Infrastructure Development Key infrastructure initiatives include: • Progressing early work on the Borumba pumped hydro project at Lake Borumba, located near Imbil, west of the Sunshine Coast • Investigating additional smaller pumped hydro schemes in partnership with the private sector • Developing a code of conduct for the renewable energy industry with a specific focus on: • Addressing community legacy benefits • Resolving current community concerns about renewable projects The roadmap reflects a pragmatic approach to energy development by seeking a balance between economic opportunities, community interests, and infrastructure requirements, and recognising the role of the resources sector as a critical partner in Queensland's economic future.

By maintaining existing assets while exploring new technologies like pumped hydro, the government signals its commitment to a measured, thoughtful approach to Queensland's energy future.

Investing in our future workforce Recognising that the resources sector's future depends on attracting and developing talent, the government is making significant investments in education and skills development.

The Queensland Minerals and Energy Academy will expand to 50 additional schools, directly challenging the narrative that has discouraged young people from considering careers in mining.

"School students should be proud to say they want to work in the resources sector, and understand the value of a career in resources," the Minister emphasised. The planned expansion directly addresses the pipeline issues exacerbating industry-wide workforce shortages and aims to inspire the next generation of resources sector professionals.

Looking forward: Queensland is open for business Commenting on the recent elections and reiterating the new Government’s strategy, the Minister stated, “Queenslanders have spoken, and they have backed our plan to shape Queensland's future. As a Government, we will restore safety wherever Queenslanders live. We'll respect taxpayers' money, and we'll redesign the way the Government works for Queenslanders.”

“But to do this, we need a robust and vibrant resources sector. And I can also promise you that we will work with you and that our belief in competition and productivity will continue to move us forward. We value our resources industry, and I ask that you judge us on our actions.” 

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Australia’s resources sector remains the engine room of our economy Australians can The Hon. Madeleine King, MP be proud of our Minister for Resources and Minister for ESG standards, Northern Australia and the fact that companies and As the world transitions to net zero, our ven as the world faces governments partners will continue to require Australia’s challenges such as Russia’s resources. are committed invasion of Ukraine This is true for traditional, well-established to the longand ongoing uncertainty in industries like iron ore, coal, and LNG, as well as our emerging critical minerals and rare term health and the Middle East, Australia’s earths sectors. resources sector continues safety of mine Each country will travel their own pathway to underwrite our economic as they navigate towards their net zero goals. workers and the wellbeing.

Even with optimistic decarbonisation targets, those pathways will continue to involve environment in exports from Australia.

When I meet with our key trading partners, I which they live As Minister for Resources, I have been a always emphasise the stability and reliability of frequent visitor to Japan, where Australia’s supply of our resources. Our trading partners and work. coal and gas plays a crucial role to support the

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value this. They know we will be there for them. We will keep the lights on.

The Bowen Basin is an integral part of Australia’s stellar reputation as a trusted energy supplier. Coal and gas from projects in the Bowen Basin are crucial to help our export partners sustain, build and transform their economies.

The Bowen Basin produced around 210 million tonnes of high-quality black coal for both steelmaking and energy production in the 2023 financial year.

Much of that goes to our trading partners in Asia, to support high-end steel and manufacturing, and for their continued energy needs.

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BBMC Yearbook 2024

economy and Japan’s net zero commitments.

For example, Nippon Steel plans to keep using Australian metallurgical coal under its net zero by 2050 scenario.

Australia’s other trading partners will continue to need metallurgical coal for their steel plants for some time.

Steel is, and will remain, important for the production of low-emissions technologies such as wind turbines, as well as electricity transmission and distribution infrastructure.

Last year, the Bowen Basin produced enough metallurgical coal to make the steel required for around 500,000 wind turbines or more than 3 million steel high-voltage electricity transmission towers.

Policy and progress

Such infrastructure could support over 1.5 million kilometres of transmission lines and link the electrical grids of New South Wales, Victoria and South Australia thousands of times over.

While global prices have returned to more long-term and sustainable levels after the spikes of 2022, demand remains firm.

The outlook for Australian coal remains strong, with the latest forecasts pointing to rising export volumes. And that is good for ongoing jobs.

At the same time, Australia is committed to achieving net zero by 2050, and to meeting our legislated target to curb emissions by 43% by 2030 compared to 2005 levels.

Australia and other nations must move to reduce the environmental impacts and emissions from coal mining as soon as possible.

The Australian Government is continuing to work on an emissions reduction plan for the resources sector – one of six sectoral plans under development.

Fugitive emissions such as methane from coal mining will be a key focus.

The Government is supporting industry efforts to address emissions.

In July, the Minister for Climate Change and Energy Chris Bowen announced a $37.2 million grant to Kestrel Coal to reduce ventilation methane emissions at the Kestrel mine in the Bowen Basin under the Powering the Regions Fund.

The future for the Bowen Basin is bright, as one of Australia’s premier resources regions it will continue to power our economy and the economies of our trading partners as we transition towards net zero.

Alongside our stable and reliable supply chains, Australia also has another great advantage on global markets – our strong reputation for Environmental, Social and Governance standards.

I look forward to supporting the resources sector, in the Bowen Basin and across Australia, as it grows and transforms to meet tomorrow’s opportunities. 

Australians can be proud of our ESG standards, and the fact that companies and governments are committed to the long-term health and safety of mine workers and the environment in which they live and work.

The tragic fatalities in the Bowen Basin this year are heartbreaking reminders of the dangers on mining sites. My thoughts are with the families of the workers involved and the wider community.

It is a reminder that federal and state governments, as well as companies and their workers, must continue to strive to make sure our resources projects are safe places to work.

Safety must remain the highest priority, because every worker should return home at the end of their shift.

BBMC Yearbook 2024

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The Coal Coma Michelle Manook, Chief Executive Officer FutureCoal

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his year, I visited seven key coal markets, including China, Colombia, India, South Africa, and the United States. I engaged with ministers, investors, technologists, and industry leaders to discuss the future of coal.

What you may not fully realise is that developing and emerging markets are advancing their economic ambitions, underpinned by coal. These nations are increasingly embracing innovation, modern technologies, and new business strategies to secure a greater share of the value chain. They’re mobilising in support of each other, joint venturing if you will; sharing both opportunities and challenges.

In Australia, policymakers and shareholders seem asleep, still entertaining energy transition ideas that Western Europe and the U.S. are already waking up to and re-evaluating.

This is concerning, to say the least.

Sidelining valuable, abatable resources is no longer justifiable. The promise of cheap electricity hasn’t materialised; renewable projects have been scaled back, and some renewable businesses have collapsed without delivering the promised dividends.

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This is not an isolated problem; it’s a systemic one—driven by poorly paced, unrealistic goals. Energy security, supply, and reliability have become firmly front of mind.

As I pen this in late 2024, Germany is feeling the strain, with iconic institution Volkswagen planning to close at least three plants, eliminate tens of thousands of jobs, and cut pay by 10%. Meanwhile, across the Atlantic, in the U.S., President-elect Trump has signalled a renewed openness to policies prioritising energy security and affordability for citizens. While the future of coal remains uncertain, experts in energy security warn of the risks associated with phasing it out. This concern is reflected in an August poll by the National Mining Association, which found that 72% of Americans believe the next President should maintain existing natural gas and coal plants to ensure affordable, reliable electricity.

Trump’s stance could strengthen the U.S. coal sector globally, especially as investors increasingly recognise coal’s role in building reliable, diversified, and sustainable portfolios.

At the same time, COP29 has kicked off with the familiar call for faster coal phase-outs. The Coal Transition Commission has released its first report, urging actions to accelerate the coal-toclean energy transition. But we've seen this narrative before, and it’s increasingly out of sync with global realities.

This is not the first time COP has disappointed. The last few COPs have echoed the same calls for coal

elimination, despite the fact that over 100 countries still rely on coal for energy security, economic growth, and industrial development.

Instead of clinging to phase-out rhetoric, COP should be championing sustainable solutions and energy diversification. By focusing on advanced coal abatement technologies, we can create a pathway where environmental responsibility and economic growth go hand-in-hand—a vision that truly aligns with the needs of coal-consuming and coal-producing nations.

All we need to do is look across to China, India, and even the U.S. who are exploring new technologies beyond combustion, including hydrogen, ammonia, and critical minerals.

These global shifts in technology and partnerships are challenging how we think and shape coal businesses, showing the way forward.

So, it comes as no surprise (at least to me) that traditional finance and investment players are overhauling their all-renewables strategies and portfolios.

Is the financial sector awakening to the fact that environmental responsibility and economic stability are not mutually exclusive? I hope so.

Over the past year, major financial institutions have re-evaluated their climate commitments with a new focus on business stability and a realistic path for environmental goals. J.P. Morgan Asset Management and State Street Global Advisors have scaled back from Climate Action 100+, BlackRock has recalibrated its involvement, and UBS

Today the opportunity to adopt a clear, strategic approach to sustainable coal exists. FutureCoal calls this Sustainable Coal Stewardship (SCS). This roadmap shows the numerous opportunities for the value chain across precombustion, combustion and beyond combustion to responsibly invest in coal’s transformation. One which ensures every nation is on a realistic path to achieving its economic and environmental ambitions. Moreover, creating a Global Alliance of responsible value chain players committed to advancing SCS opportunities.

The global conversation surrounding coal is maturing.

In Australia, policymakers and the industry at large must rise from this self-inflicted ‘coal coma.’ Hiding from the public debate, remaining inwardly

and domestically focused, and lacking inclusivity guarantees that Australia will miss out on the next wave of coal innovation. Fragmented strategies that ignore the realities of coal’s vital role globally only place the nation at risk of being left behind. While Australia remains stagnant, countries within the BRICS (Brazil, Russia, India, China and South Africa) are advancing, collaborating, and embracing new coal technologies to fuel their economic growth.

With its talent in low-emission technology and SCS expertise - and key coalconsuming nations nearby - Australia risks losing its chance to lead in coal’s transformation unless it adopts a global, strategic outlook now. Policymakers must embrace our SCS roadmap to redefine the future of coal. By reimagining its strategy, Australia has a chance to lead a sustainable coal renaissance, supporting both environmental progress and longterm economic prosperity. The time to act is now. 

In Australia, policymakers and the industry at large must rise from this self-inflicted ‘coal coma.’ Hiding from the public debate, remaining inwardly and domestically focused, and lacking inclusivity guarantees that Australia will miss out on the next wave of coal innovation.

Powering Progress with Aeris Resources MacKellar Group is proud to partner with Aeris Resources on the Tritton Operations project, expanding the Murrawombie Mine and advancing copper production — an essential metal driving renewable energy systems worldwide.

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Policy and progress

Group abandoned its coal phase-out.

Even U.S. regional banks are ramping up lending to fossil fuels, increasing support for oil, gas, and coal industries by 70% annually since 2022 as they capitalise on Europe’s divestment trend.

Preparing for the next surge: the need for increased drilling in Queensland's resource sector Kim Wainwright, Chairperson Queensland Exploration Council Global demand for energy and raw materials continues, and Queensland finds itself at a crucial juncture in the exploration of its resources reserves for coal, gas, metals and critical minerals.

The state’s rich geological landscape provides significant opportunities for resource discovery, and to capitalise, Queensland must intensify its exploration. Drilling is the backbone of resource discovery—it’s the primary way exploration companies confirm reserves, validate geological models, and secure future projects.

Ramping up drilling activities now is essential for positioning the state to take advantage of the next commodities surge.

The role of drilling in resource development Drilling serves as the foundation for future resource projects when it comes to exploration. While some geological surveys, seismic imaging, and surface sampling can provide valuable data, drilling confirms the existence, quality, and quantity of the resources underground.

Image: Thiess

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It is through drilling that explorers can pinpoint viable deposits, quantify reserves, and determine the economic feasibility of projects.

Without sufficient drilling, projects can stall in preliminary phases, as companies lack the data

to move forward with confidence. A robust drilling strategy combined with regulatory certainty is important to keeping Queensland competitive in its exploration efforts and encouraging investment in high-quality reserves.

Challenges facing Queensland’s exploration sector Queensland can take advantage of its natural, high-quality reserves when the right policy settings are in place. Currently, explorers face barriers that can delay drilling and, ultimately, new project development.

Regulation, extended timelines for land access approvals, and high compliance costs can slow down project momentum. Since 2013, the number of resource projects progressing through Environmental Impact Statement (EIS) processes has steadily declined, according to data compiled from the Canberra-based Office of the Chief Economist within the Department of Industry, Science and Resources. Ten years ago, Queensland had over 440 million tonnes of coal projects in the pipeline, supported by 30 projects moving through the EIS process; today, this has dropped to just 172 million tonnes and only eight projects within EIS evaluation. This decline is an illustration of deferred or lost investment opportunities.

Policy and progress

Supporting junior explorers to spur discovery

The state’s junior exploration market, essential for initial drilling and discovery, has also seen the challenges of raising capital and securing land access for drilling.

Unlocking Queensland’s potential through increased drilling Unlocking Queensland’s full exploration potential requires a renewed focus on intensified drilling programs. Increased drilling activity could help discover new deposits, build a stronger reserve base, and allow resource companies to better map and quantify existing resources.

Queensland will need active exploration in the near term to meet the global demand for resources required for energy needs and renewable energy technologies. Longer term, our success will depend on fully assessed, highquality reserves ready to supply at scale.

Increasing drilling will also provide crucial insights into deposits of critical and strategic minerals, such as copper and rare earth elements. These minerals are essential for renewable energy technologies, including batteries, electric vehicles and wind turbines.

To meet the growing demand for new energy technologies, more than 300 new mines could be needed globally over the next decade, according to Benchmark Mineral Intelligence. This includes the production of critical minerals like graphite, lithium, nickel, and cobalt. In line with this, the International Energy Agency reports that demand for these same minerals saw significant growth in 2023, with lithium demand rising by 30%, while demand for nickel, cobalt, graphite, and rare earth elements all increased by 8% to 15%.

As demand for critical minerals is expected to rise, Queensland has a significant opportunity to supply the global clean energy market. Drilling to map and develop reserves of these minerals presents not only an economic opportunity but also a strategic advantage, positioning Queensland competitively in the global marketplace.

Junior exploration companies play a vital role in Queensland’s exploration sector with their agility and eagerness to drill new areas. These explorers test innovative approaches and, in some cases, take on the riskier projects that larger companies may avoid. However, in recent years, the junior market has faced unprecedented challenges.

Limited access to capital has hindered smaller companies from conducting the high-cost, high-risk drilling activities necessary to confirm new deposits.

A proactive approach to support junior explorers through streamlined land access approvals, reduced regulatory burdens, and targeted financial incentives can significantly enhance exploration efforts.

Government support, particularly in the form of grants or co-funding for exploration projects, can be transformative for junior explorers and help to overcome financial barriers. Such support not only benefits the companies but also contributes to a stronger, more vibrant resource sector, ultimately enhancing Queensland’s overall competitiveness.

Collaborating with the new government for a thriving resource future Working with all stakeholders will be important for developing a pipeline of resources projects and the regulatory settings that support drilling and exploration. The Queensland Exploration Council (QEC) will work with the incoming government on key priorities to encourage investment and drilling programs. The priorities include streamlining land access processes, reducing regulatory delays, and creating a more predictable pathway to production, and targeted investment incentives.

Recently, the Fraser Institute’s Investment Attractiveness Index showed that Australia has fallen behind the United States as the most attractive region for mining investment. With the right reforms, Queensland has a significant opportunity to reclaim its standing, drawing in investors eager to support energy and resource projects in a favourable business environment.

A bold approach to drilling, supported by a favourable investment climate and streamlined regulatory processes, will ensure Queensland has development-ready projects ready to meet global demand.

Building a sustainable future for Queensland’s resource sector Increasing drilling efforts today can secure a sustainable future for Queensland’s resources sector by discovering new reserves and confirming known resources. A bold approach to drilling, supported by a favourable investment climate and streamlined regulatory processes, will ensure Queensland has development-ready projects ready to meet global demand.

Through collaboration between industry and government, Queensland’s exploration sector can achieve a vibrant and sustainable future, positioning the state to lead the charge in supplying resources for the global economy.

By embracing a bold approach to drilling, supported by a favourable investment climate and streamlined regulatory processes, Queensland will be wellequipped to capitalise on the next surge, ensuring its continued place as a powerhouse in the evolving energy landscape.  BBMC Yearbook 2024

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the future of the bowen basin The future of the Bowen Basin

Image: BHP

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The future of the Bowen Basin

Let’s not ignore mining and exploration amid heightened global tensions Warren Pearce, Chief Executive Officer Association of Mining and Exploration Companies

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ueensland’s mining and exploration industry understands all too well that we operate in a cyclical business. Companies plan and build strategies to accommodate this reality. However, it’s important to recognise the last 12 months have provided far more challenges than the cyclical nature we are used to.

Considering the many threats to the ongoing strength of our industry, it’s more important than ever for leaders, policymakers and the community not to take our critical industry for granted. Not just in Queensland but nationally, where one of the most pressing challenges currently faced is the growing regulatory approvals burden.

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A case in point is the controversial decision in August by the Federal Environment Minister, Tanya Plibersek, to block the McPhillamys gold mine, a project that would have injected $1 billion into NSW's economy with $200 million worth of royalties to follow. This isn’t just a NSW problem, it’s a national problem and could impact projects in Queensland as well.

It sets a dangerous precedent in Australia for a project on private land, even with all required approvals, to be halted at the last minute.

AMEC is aware of multiple companies across the country, facing a similar fate. All they can do is sit in limbo as they await the very real prospect of a Section 10 halting their projects.

Let’s not take the benefits of our industry for granted Then there are the proposed

It is imperative new ‘Nature Positive’ laws that only exacerbate the that we maintain approvals process and timeframes. Designed to a balanced replace the Environmental Protection and Biodiversity approach to Conservation Act (EPBC), and while well-intentioned, development, the implementation of these one that laws could further restrict Nobody is denying that mining and exploration regulation is essential for respects the activities, making it even ensuring sustainable and more difficult for projects to The Minister invoked Section responsible mining practices. environment and 10 of the Aboriginal and get off the ground.

This includes ensuring Indigenous cultural heritage is Torres Strait Islander Heritage protects cultural Protection Act. The decision preserved. But these lastTalk of these laws being watered down or even heritage, while was handed down after Regis minute opaque processes abolished are promising. With are threatening investment, Resources spent seven years a federal election around also ensuring obtaining state and federal which will ultimately deny the corner, it appears the traditional owners the environmental approvals. government isn’t looking to the stability and The Orange Local Aboriginal benefits they deserve to pick further fights on this receive as a result of the Council (OLALC) front - positive news for the growth of our Land project going ahead. also consented to the mine, industry. it would not “impact resources sector. saying any known site or artefacts of high significance.”

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It leaves investors thinking twice as to whether Australia is the stable investment it once was. In place of stability, investors both locally and overseas are evaluating the sovereign risk that Australia poses right now.

On a positive note, AMEC is encouraged by early discussions with the incoming Queensland Liberal National Party and the Hon. Dale Last MP, new Minister for Natural Resources, Mining, Rural and Regional Development. Mr Last has shown an early commitment

Yearbook Mining Club_Advert_2024_V1.pdf

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to drive progress, growth and innovation in our industry.

Meanwhile, the energy transition and the critical minerals required to fuel a new wave of power received a massive shot in the arm earlier this year.

The Federal Government announced the Critical Minerals Production Tax Incentive (CMPTI) in the May Budget, which provides companies that downstream process critical minerals in Australia with a 10% tax credit.

By recognising the strategic importance of these minerals, the Federal Government has taken a policy setting presented by AMEC, designed to bolster the production of these vital

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The future of the Bowen Basin

The cumulative effect of these decisions is to create a climate of uncertainty, which is the last thing our mining industry needs as it faces increasing global forces and rising costs.

resources and create new supply chains. This incentive is not just a boon for the mining sector but promises to bring new opportunities for Australia and bolster our national security.

Critical minerals such as lithium, cobalt, and rare earth elements are essential for the production of batteries, wind turbines, and solar panels. By incentivising their production, the CMPTI directly supports the global transition to renewable energy.

Those opposing the policy claim there is too much risk associated with it and that the government is throwing away billions of dollars.

However, that’s a narrow-minded view, because unlike most direct subsidies given to companies or sectors, the tax credits are only paid out once the companies are producing. This means that if they don’t produce, they don’t receive a tax credit. And no loss to the taxpayer.

Done right, it will foster economic growth, enhance global competitiveness, promote technological innovation, ensure environmental sustainability, and revitalise rural communities.

And that’s why it is so important we resolve the challenges hanging over the industry’s head.

There is little wonder why investors are nervous about Australia's sovereign risk, considering: • President-elect Donald Trump threatening higher tariffs early next year • A Federal election in the first half of 2025 • Section 10s providing uncertainty for future project • Nature Positive legislation threatening to duplicate and 28

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The future of the Bowen Basin

further slow approval timeframes • Global supply chain pressures • Market volatility These factors (among many) will have a telling impact on how the industry performs over the next 12 months - not to mention the state of our economy.

Queensland has long been an important cog in the nation’s economy, and indeed, the resources sector is the backbone of this state’s prosperity. The mineral wealth beneath our feet provides jobs and opportunities for countless Queenslanders.

In fact, research published in The Courier-Mail earlier this year, showed a quarter of Brisbane’s workforce is directly or indirectly connected to the mining and energy sector. Put into dollar value, it’s $1 in every $5 in Queensland that is coming from the mining industry, or about $40 billion annually.

Despite this, recent events have highlighted the vulnerabilities and complexities that accompany such a vital industry.

It is imperative that we maintain a balanced approach to development, one that respects the environment and protects cultural heritage, while also ensuring the stability and growth of our resources sector. Otherwise, the flight of capital has choice.

AMEC will continue to advocate for policies that support sustainable growth, reduce regulatory duplication and delays, while encouraging investment in exploration. Now is not the time to take our resources sector for granted, it is a time to reinforce our commitment to its success. 

Considering the many threats to the ongoing strength of our industry, it’s more important than ever for leaders, policymakers and the community not to take our critical industry for granted.

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Queensland’s leaky resources pipeline: how stability and simplicity can restore the flow Jodie Currie, Director Bowen Basin Mining Club This article was published in the September 2024 edition of @The Coalface, Queensland Edition

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here’s been a groundswell of vocal support for the Queensland mining industry over the past few months, from The Courier-Mail’s Future Resources Forum in June to the Queensland Mining and Engineering Exhibition (QME) in July and the annual MiningPro Coal Industry Event, which also launched two new advocacy groups: Coal Australia and Jobs for Mining Communities.

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All three events were well-attended by coal industry advocates, parliamentarians and everyday Queenslanders who make a living from the sector – and who are increasingly heeding calls to be loud and proud about their livelihoods.

On the other hand, this buoyancy is offset by a common theme that I’ve seen in conversation and several panel discussions, focusing on the ripple effects caused by the 2022 Queensland government royalty hikes.

With two years of hard evidence on hand, it’s clear as day that Queensland’s resources pipeline, abundant for so many decades, now has serious leaks - many caused by royalties and taxation policies and unresponsive regulatory controls and approvals, exacerbated by a headin-the-sand public and governmental attitude to our longer-term futures.

What’s coming out of the spout today?

Janette Hewson, Chief Executive Officer for the Queensland Resources Council, revealed the exact state of the pipeline in a Speaker Series discussion

about ‘Royalties and the Impact to Queensland’ at QME that I moderated.

She explained that in 2022, just before the royalty hike was imposed, there were 440 million tonnes of potential projects in the pipeline. Today, we’re looking at just 170 million tonnes.

Overwhelmingly, major players are only investing in sustaining capital rather than committing to forward-facing projects.

Minerals Council of Australia’s Chief Economist, Dr Ross Lambie, reiterated, “It’s a very leaky pipeline—not much actually makes it through to committed or completed projects. That’s because of the distinctive characteristics of mining investment—large, lumpy capital, long time spans for returns, and volatile prices—these all add up to uncertainty.”

While we all appreciate those factors, we can’t affect many of them as an industry.

But one we can address is the stability of Queensland’s policies as they affect the sensitive investment environment. Policy certainty is critical for good outcomes for the national economy, communities,

The future of the Bowen Basin

the closure of Central Queensland’s Bluff Mine was a direct result of the royalty grab, absorbing a whopping 62% of the operating margin. This was clearly not sustainable by anyone’s standards and directly affected the nearby and surrounding communities.

Moving forward to stability and simplicity

Image: Hastings Deering

and regions, and the continuing elongation of approvals and unannounced royalty impositions only reduce the output at the end of the pipeline – from where so many of our high standards of living are funded.

Legislative stability will stem the main leaks During 2023, the QRC presented no less than 64 submissions to the government about the changes. The overriding message – stop moving the goal posts. Amid all else, stability will help to keep the industry healthy and growing into the future. Ms Hewson stressed, “it’s about staying competitive – other Australian states and other resource-producing countries are become simpler and less risky to invest in. If we can’t

guarantee stability, we will continue to go backwards.”

Royalties take 32% of revenue from Queensland coal mines The QME panel included Paul Flynn, Chief Executive Officer of Whitehaven Coal. On one of the few acquisitions in the Queensland coal industry in 2023, he commented, “We’ve doubled our Queensland businesses with Blackwater and Daunia, but we need a sustainable royalty regime in the state. It’s not just about solving short-term budgetary holes for Queensland. There’s no energy transition without mining, and that includes steel-making coal.”

Similar views were expressed during June's Courier-Mail Future Resources Forum.

Nick Jorss explained that

‘Stability and simplicity’ is the clarion call from industry leaders and policy experts. To make investment more attractive, these two factors should be the first and overriding priorities.

Stability and simplicity in policy, such as a wholeof-sector approach, rather than treating bulk materials and critical minerals differently, would make a demonstrable difference. And a straightforward, transparent process to approvals would send a message of respect, along with encouraging a stable environment for investors. The experience of potential and actual investors has been one of ‘red carpet to red tape’, to quote a great analogy from Bravus’ Samir Vora at The Courier-Mail luncheon.

The sustainable future of coal is simple – and attainable. But as Nick Jorss pointed out, “The activists have had the megaphone and they’ve run the dialogue - it’s time for us to take our rightful place and remind people what we actually do contribute”.  BBMC Yearbook 2024

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Powering tomorrow: the essential role of Queensland’s steelmaking coal Adam Lancey, Asset President BHP Mitsubishi Alliance

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cross the mining industry, we are facing challenges. Inflation pressures, disruption to supply chains and labour constraints are impacting us all, while previous Queensland government policy decisions have further diminished Queensland’s capacity to remain competitive alongside other mining regions in Australia and around the world.

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As an industry, we are known for our resilience. Despite operating in a rapidly changing environment, this has enabled us to continue to play a key part in meeting the global demand for essential steelmaking minerals.

In our case at the BHP Mitsubishi Alliance (BMA), this is the production of higherquality steelmaking coal, also known as metallurgical or coking coal, which is a core pillar of BHP’s strategic portfolio.

Queensland is known for its higher-quality coal assets, having attracted decades of investment. This long history of coal investment in this state has translated into enormous benefits for Queenslanders.

In FY2024 alone, Queensland’s resources sector: • Contributed a record $120 billion dollars to the Queensland economy (gross value added) – equivalent to 24% of Queensland’s economy; • Supported more than half a million Queensland jobs – equivalent to 1-in-6 jobs; and • Paid $12.8 billion in payments to the State Government, including in royalties.

The positive contribution of mining in Queensland extends far beyond the royalties we pay. It is also in the major contribution we make to our host communities. Our industry brings ‘lived’ benefits and outcomes that truly make a difference to the regional communities of Queensland.

A large portion of employees live and work in communities close to mining operations. Our industry also backs local businesses. Last financial year, mining and energy companies spent nearly $36 billion buying goods and services from more than 17,000 Queensland businesses and supported over 1,600 local charities and sports clubs.

Image: BHP

From a BMA standpoint, we believe we are successful when we work in partnership with regional communities and, where we can, seek to employ local people and purchase local goods and services through our supply chains.

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The future of the Bowen Basin

We are proud to be part of a world-leading mining sector in Queensland. The mining sector is the largest contributor to Queensland’s economy, the largest regional employer, and the largest export industry in the state.

On the employment front, we have a proven track record of supporting regional growth and jobs. Today, we have more than 9,500 employees and contractors working across our operations and offices, with a large number based in the Bowen Basin. Keeping people employed close to home in the regions has been core to our business for 50plus years.

Through partnering with communities in FY2024, BMA voluntarily invested $11.8 million in education and training, Indigenous, environmental, economic development and health and wellbeing projects in Queensland.

To enable us to continue to add value to regional communities for generations to come, our industry needs to be prepared for the headwinds in front of us.

Navigating challenges amid robust global demand We see a positive future for Queensland’s worldleading higher-quality steelmaking coal. We have the fundamentals to deliver substantial longterm economic benefits for Queensland.

However, the past successful formula of good fortune, good resources and stability may not be enough.

Drivers of the global economy are megatrends such as population growth, urbanisation and, of course, decarbonisation. Now, more than ever, we need a competitive resources sector if we are to provide future generations of Queenslanders with the same opportunities we enjoy today.

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Now is the time for a reset in engagement between government and the mining industry to help restore competitiveness to Queensland and to leverage the great opportunities ahead of us.

The challenge for us as a business – and the industry more broadly – is the attractiveness for capital and investment in Queensland relative to opportunities in other parts of the world.

Despite the opportunities before us, it has become more difficult to attract that investment to Queensland.

Steelmakers, customers and investors in Queensland’s coal mines have been increasingly sharing their concerns about the future of our industry in the state.

Our sector needs policy and fiscal settings that give Queensland a competitive edge - faster permitting and approvals, and an industrial relations system that delivers productivity, flexibility and competitiveness to drive job creation and wage growth. Predictability and reduced business risk are key ingredients to ensure Queensland can be competitive for investment and for capital to flow.

Today, around 40% of global steelmaking coal exports come from Queensland.

Our steelmaking coal is essential to meet the growing demand driven by markets such as India and Southeast Asia. While China alone has recorded a sixth consecutive year of crude steel production above one billion tonnes, we know we’re entering an era of adjustment as China’s steel production plateaus.

It is a different story in India.

Crude steel production in India, predominantly via the blast furnace process route, has increased by over 40% since the beginning of the decade. India is now touted as the fastest-growing major economy and looks likely to continue to increase its steel production.

Queensland’s path to global opportunity

Nations around the world are rapidly building and need steel to keep up with urbanisation, population growth, the rise of living standards and, increasingly, energy transition infrastructure. We will have substantially more people on this planet seeking higher standards of living that need to be supplied and powered by resources that are extracted, refined and used more sustainably.

We believe global demand for steel will continue to be strong and some of the world’s best-quality steelmaking coal – right here in Queensland – will be in demand decades into the future.

I am proud to say we contribute to that goal right here from Queensland. For us in BMA, this speaks to the heart of our BMA purpose – to build a better world from Queensland.

Now is the time for a reset in engagement between government and the mining industry to help restore competitiveness to Queensland and to leverage the great opportunities ahead of us.

Long-term thinking for longterm impact When it comes to making investment decisions, our business thinks in the long term. We consider the long-term impact of what a decision today can mean not only for our business in 20 years, but also for regional communities in 20 years.

Every decision that can impact our host communities – whether it’s access to health services, education for children or the skills required by our workforce – requires long-term thinking.

Real change and sustainable long-term growth require the consideration of more than just what we need now to fix tomorrow’s problem.

Change is coming fast, and the onus is on all of us – governments, investors and the entire mining industry up and down the value chain – to adapt and to do things better.

We want to continue our contribution to Queensland, and the best way to do this is to ensure it’s a great place to invest and do business. We owe it to future generations and to the communities that rely on us to get this right. 

ROCKHAMPTON IS LOCATED AT THE NEXUS OF QUEENSLAND’S RAIL AND ROAD NETWORKS. QUEENSLAND’S CENTRAL MINING HUB OFFERS AN EXPERIENCED WORKFORCE AND ENVIABLE LIFESTYLE. ACCESS NEW INDUSTRIAL LAND AND WATCH YOUR BUSINESS THRIVE AMONGST OUR BOOMING RESOURCES INDUSTRY.

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Industry and operational developments

ALL ROADS LEAD TO ROCKY

The pitfalls of taking coal for granted Mick Crowe, Chief Operating Officer Bravus Mining and Resources

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aking things for granted is a mistake we all often make. For our great state of Queensland, the cost of taking coal mining for granted is much higher than a simple opportunity missed.

As I reflect on 2024 and look ahead to 2025, one of my biggest hopes is that the new Crisafulli state government, many of its Members and Ministers elected by coal mining communities, will take the opportunity to secure Queenslanders’ economic future by embracing coal mining so it can continue to provide the jobs and income that underwrite the Queensland we all love.

For far too long, “there is no future in coal” has been the prevailing narrative from our community leaders and decision-makers, when the facts show that reality couldn’t be further from the truth.

The fact is there will be a market for Queensland’s abundant coal resources for decades to come.

Image: Bravus Mining and Resources

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The fact is coal can work in tandem with renewables and is fundamental to providing the baseload power the developing world needs as it industrialises, and its citizens seek a modern lifestyle with reliable energy for better health, education, and employment.

For coal to play its part in reducing emissions, we must use high-quality Australian coal and avoid forcing developing nations to use lowquality local coal.

And the fact is Queenslanders’ futures can be bright on the back of this tide of global growth, too. A vibrant Queensland export coal sector can continue to be a world leader in innovation, safety standards, and environmental management. It can continue to support our high standard of living here at home while at the same time helping to lift the poorest people in nations like India, Vietnam, and the Philippines out of poverty.

The hard question is: will Queensland have coal mines to reap these benefits in the future?

Tens of thousands of Queenslanders work in coal mining. Most of them wear hi-vis, but others, like the lawyers, accountants, and information technology professionals based in a CBD office tower, are just as much miners as the rest of us.

They are proud of what they do and what coal mining provides for their family, friends, community, and state. They want to see their leaders reflect that pride and see public policy that nurtures and promotes their industry so that through it, our state can thrive for another 40 years and beyond.

Now’s the time for Queensland to chart a new course - to stand up and embrace our worldclass coal mining industry before we turn around one day and it is no longer there, and every Queenslander is the poorer for it. 

Australia relies on coal communities

Australians rely on coal in so many ways. Coal generates reliable electricity and keeps the lights on. Coal is used to make steel – steel that’s used to build homes, hospitals, bridges, and life-improving infrastructure.

To keep this essential coal coming, Australia relies on those working at the coal face. Not just those in hi-vis on the mine site, but the workers and businesses in our regional communities who support them.

When Australians rely on coal, they’re relying on Queensland’s coal communities.

Show your support for our QLD coal communities CoalAustralia.com BBMC Yearbook 2024

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The year that coal fought back Nick Jorss, Chairman Coal Australia

C

oal was the driving force behind the Industrial Revolution, transforming economies and lifting billions of people out of poverty.

Today, it remains a vital source of affordable, reliable energy, supplies vital industries like steel, and provides livelihoods for hundreds of thousands of Australians. Coal is Australia’s biggest export after iron ore, adding tens of billions annually to our economy.

In recent years, however, coal has been unfairly vilified, with politicians exploiting the issue to sow division among Australians.

That’s why Australia’s coal industry is fighting back – and it’s working.

This year, we launched Coal Australia to re-establish a sense of excitement and pride in the sector.

Image: Turnbull Photography

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Coal Australia’s membership includes a broad spectrum of industry players, including those directly and indirectly involved with the mining industry, from metallurgical and thermal producers to suppliers, customers, and local businesses.

The new movement has demonstrated solid grassroots support for the industry across communities. Since its launch in mid-2024, more than 15,000 Australians have joined our 'Friends of Coal' network, and thousands more join us every month.

We’ve produced and promptly sold out of Coal Australia merchandise, which people are proudly wearing around their towns and cities. By highlighting the positive contribution of coal to our communities, we have begun shifting the narrative.

It couldn’t come at a more opportune time. Amid a global cost of living crisis and a growing awareness of the limitations of renewable energy, demand for affordable power has risen along with a realisation of the importance of coal.

Australia’s, and specifically Queensland’s coal mining communities and the companies and suppliers that support them, have long felt that the national conversation about coal was out of step with the reality.

There is a common myth that Australians oppose coal. But we found that when actually asked, most understand its vital role.

Polling commissioned

by Coal Australia shows Queenslanders’ strong support for coal. In regional electorates, from Mackay (+92%) to Rockhampton (+90%) and Gladstone (+90%), there is solid support for the view that coal mining is important to their communities. In Brisbane electorates, like Springwood (+71%), Capalaba (+73%) and Ipswich (+83%), there is broad understanding that coal is important to the Queensland economy.

A strong majority across all Queensland communities polled agreed that attracting investment to grow the coal mining industry is important and that the government should not make coal mining

It is also clear that the former Queensland government's attempt to divide the electorate over coal royalties failed. Some 68% of regional voters and 61% of Brisbane metropolitan voters supported a more competitive coal royalty regime to allow mining companies to continue investing in Queensland.

When people understand the economic role that coal plays, they back the industry.

The recent Queensland state election demonstrates the danger of a government that takes an unbalanced view of the role of coal.

Queenslanders rejected the divisive tactics and swung hard against the former government. In coal communities, there was an average swing against Labor of 10.9%. Resources Minister Scott Stewart lost his oncesafe seat of Townsville, with a swing of more than 9% against him. Outer suburban Brisbane seats, feeling cost of living pressures, swung as well, embracing the industry that supports our national prosperity and supplies households with cheap, effective power.

Next year’s Federal outlook remains promising as we intensify our advocacy for the regional communities that depend on coal mining as a cornerstone of their local economies and livelihoods.

The new movement has demonstrated solid grassroots support for the industry across communities … by highlighting the positive contribution of coal to our communities, we have begun shifting the narrative.

To join the movement, visit CoalAustralia.com. 

We’re here for Queensland At Whitehaven, we’re proud to support regional communities across Central Queensland.

We have a proven track record of direct investment in regional communities, with $1.25 million committed to local communities and partnerships in FY24 alone.

Discover the positive change we’re creating in our communities at

whitehavencoal.com.au

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The future of the Bowen Basin

harder. In 2024, Australians are seeing the role coal plays in maintaining our prosperity, jobs, and quality of life.

Will a new energy policy for Queensland help or hinder mining in the Bowen Basin?

Matthew Anderson, Director, Research and Consulting Commodity Insights

I

Image: Turnbull Photography

n the aftermath of the recent state election in Queensland, the Liberal National Party (LNP), led by David Crisafulli, is poised to give the state's energy policy the attention it warrants.

This focus will prioritise cost management, energy reliability, and maintaining coal as a central energy source. This marks a significant departure from the previous Labor government's ambitious commitment to achieve the renewable energy targets of 70% by 2032 and 80% by 2035.

consumption, which can account for 30-80% of Scope 1 emissions at a mine, is being reduced through the increasing adoption of electric vehicles and other electrified equipment, such as electric shovels. This shift is driven by the need to meet Scope 1 and Scope 2 emissions targets set by lawmakers.

However, a critical concern remains regarding the reliability and sustainability of electricity sources that will support this transition.

Instead, the LNP is anticipated to concentrate on developing smaller hydro projects and will ensure the ongoing use of coal as the foundation of the state's energy infrastructure.

While the LNP's strategy offers short-term benefits in terms of affordability and energy stability, it may also create conflict with Australia's overarching goals for renewable energy and emissions reduction.

As of June 2024, Queensland has an installed renewable generation capacity of approximately 7.6GW (wind farm, hydro, biomass, solar farm), not including distributed rooftop photovoltaic systems, which are estimated to contribute about 5.9GW across one million homes and small businesses throughout the state. Notably, the lack of rooftop solar data in government reports indicates that this form of power generation ranks second to coal-fired generation capacity in Queensland.

Reducing emissions in Queensland's mining sector hinges on addressing the energy sources required for electrification. Diesel

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Energy plays a vital role across the mining value chain, powering equipment and processes such as wash plants. As the industry transforms to reduce diesel usage, numerous mining operations are grappling with the challenge of securing sufficient and consistent electricity supply. Feasible generation policies are pivotal, not only for compliance but also for ensuring the long-term productivity and sustainability of mining operations throughout Queensland.

Queensland’s installed power generation capacity

Reliability of Queensland's Generation Fleet 70% 60% Plant Output (%)

7 5 2 0

Coal

Rooftop Solar

Gas

Solar Farms

Wind Farms

Hydro

Biomass

Other

Source: Commodity Insights interpretation of Queensland’s installed power generation capacity The state of the renewable energy pipeline At present, Queensland boasts more than 55 large-scale renewable energy project initiatives, encompassing solar farms, wind farms, and hydroelectric projects at different stages of development—both planned and under construction. Together, these projects represent approximately 75GW of prospective power generation capacity, which is three times the capacity of Queensland’s current power generation fleet.

Queensland's Planned Generation Capacity Additions, GW

50 38 25 13 0

Coal

Gas

Solar

Wind

Hydro

Biomass

Other

Source: Queensland Department of Energy and Climate The 75GW pipeline represents an ambitious aim for a state with a history of underinvestment in power generation and electricity grid infrastructure. However, this notional growth is primarily intended to address the variable and intermittent nature of renewable energy, as sunlight is not constant, and Queensland frequently experiences low wind periods. This means that to achieve the same reliability as the coal-fired generation fleet (i.e., 60%) - the size of the wind generation fleets needs to be ~18GW (7 times larger than the 2.6GW currently installed) and to deliver the same output as the coal generation fleet, the installed capacity of wind needs to be ~39GW (15 times larger than today).

52% 35% 18% 0%

29%

26% 24% 21%

21%

15%

13% 0

2.25

4.5 Installed Capacity (GW)

6.75

9

Source: Commodity Insights’ Estimates Maintaining stable power for productive mining The energy intensity of a coal mine varies greatly depending on factors such as mining methods, location, and processing needs. To address this, many mining companies are adopting renewable energy solutions, including on-site solar farms and battery storage systems, or engaging in ‘green’ power purchase agreements with energy providers. This transition highlights a broader shift toward a holistic approach, with mining operations actively adapting to the changing energy landscape and aligning their strategies with sustainability objectives.

With the integration of increased electrification, remote operations, and autonomous fleets, maintaining a stable and reliable energy grid is essential to support mining productivity and reliability. Power supply deficits causing grid imbalances and load shedding (controlled outages) at mine sites will significantly affect operational effectiveness, especially as operators contend with rising labour and energy costs and the highest royalty rates globally.

Queensland energy policies that focus on reliability and cost management are poised to benefit the Bowen Basin's mining sector in the short term by providing stability and affordability.

However, long-term success requires greater certainty through feasible policies that recognise mining’s dual role in driving economic growth and supporting the transition to net zero. A stable electricity grid, reliable power generation and consistent load management are essential to ensure mining electrification efforts remain productive, enabling the Bowen Basin to sustain its vital contribution to Queensland’s economy and sustainability goals. 

Notwithstanding the environmental and economic cost of building wind and solar, these challenges raise concerns about energy reliability, which may worsen as coal-fired generation is phased out, potentially affecting mining efficiency and production levels.

With the integration of increased electrification, remote operations, and autonomous fleets, maintaining a stable and reliable energy grid is essential to support mining productivity and reliability.

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The future of the Bowen Basin

Queensland Installed Generation Capacity 2024, GW

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Securing Australia's critical minerals future: navigating the intersection of national security and foreign investment Damien Clarke, Joint Managing Partner Meg Morgan, Partner McCullough Robertson

I

n today’s global economy, critical minerals are the foundation for advanced technologies, renewable energy solutions, and national security.

As the world embraces decarbonisation and digital transformation, minerals like lithium, cobalt, and rare earth elements have become strategic assets. Australia, with its vast reserves, is central to the global supply chain, but balancing foreign investment with national security is a growing challenge. The Foreign Investment Review Board (FIRB) plays a key role in navigating this delicate balance, reshaping Australia's critical minerals sector.

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Critical minerals as the new frontier of national security In recent years, the importance of critical minerals has risen to the forefront of national security discussions globally. As other nations, particularly China, dominate global processing and control of these resources, Australia finds itself in a unique position: a resource-rich nation seeking to attract and secure foreign investment opportunities while balancing national security imperatives.

Australia’s Critical Minerals Strategy 2023-2030 outlines a vision to build a robust domestic supply chain.

However, achieving this vision depends heavily on foreign capital to fund exploration, extraction, and processing infrastructure. FIRB plays a vital role in ensuring that foreign investments align with Australia’s national interests while supporting the country’s economic and geopolitical ambitions.

The Foreign Investment Review Board’s expanding scope and heightened scrutiny In recent years, FIRB’s mandate has expanded significantly, particularly with respect to investments in Australia’s critical minerals sector.

Foreign investment into Australia’s critical mineral sector will generally require FIRB approval to: 1. acquire an interest of 10% or more in an Australian land entity (i.e. an entity where 50% of the value of its assets are interests in Australian land including mining leases). If 10% or more of the entity’s asset value is mining tenements, the relevant threshold for FIRB approval is nil; 2. acquire a substantial interest (i.e. an interest of 20% or more) in an Australian entity where the relevant monetary threshold is met, currently $330 million; and 3. acquire an existing mining lease where a relevant exemption does not exist.

Foreign government investors (FGIs) face even stricter requirements and generally need FIRB approval for any investment in the mining or the processing stages of critical minerals.

The national security reforms introduced in Australia in 2021 granted FIRB greater powers to scrutinise and block investments that could pose risks.

FIRB’s call-in powers, allowing it to review any foreign investment within 10 years, now add an additional layer of oversight.

The future of the Bowen Basin

Image: Turnbull Photography

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Changes to FIRB’s treatment of critical minerals has followed the increased global demand for critical minerals used to produce essential modern technologies. China currently dominates the global critical mineral processing sector - processing roughly 85% of the world’s cobalt and 75% of the world’s lithium.

FIRB’s attitude to curb this dominance was reflected in the Treasurer’s recent exercise of FIRB’s divestment powers.

In June 2024, the Treasurer ordered the Yuxiao Fund, a Chinese-linked investment fund (and its associates) to divest a combined interest of 10.4% in Northern Minerals Limited on “national interest” grounds.

This divestment order follows recent FIRB rejections in 2023, including: 1. in February, the Treasurer blocked the same Yuxiao Fund from increasing its stake in Northern Minerals Limited from 9.98% to 19.9%; and 2. in July, the Treasurer blocked China-linked mining company, Austroid Corporation, from acquiring an additional 90.10% of lithium miner Alita Resources Limited. This acquisition would have brought its stake in Alinta Resources to 100%.

The Australian subsidiary of Austroid Corporation, Austroid Australia Pty Ltd, was also barred from wholly acquiring Alita Resources Limited.

While FIRB’s role is crucial, it also raises important questions: How can Australia ensure the secure development of its critical minerals sector without discouraging foreign investors? And how will FIRB’s policies shape the competitive landscape for Australian companies in the global market?

Enter: The Minerals Security Partnership Finance Network In September 2024, Australia, the U.S., Japan, Canada, and 11 other nations announced the creation of the Minerals Security Partnership Finance Network, coined as the 'NATO of critical minerals.'

The Network aims to enhance global cooperation, information exchange, and co-financing to secure sustainable supply chains for critical minerals essential for the energy transition.

The partnership highlights the need for joint action to meet global energy

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goals and supplements existing funding commitments for the Australian critical minerals industry.

The Network is also advancing projects like the Australian Strategic Materials rare earth initiative, which is set to receive up to US$600 million from the U.S. Export-Import Bank. The Network is a welcome addition to the host of investment commitments from Australian State and Federal governments, and participation in the Network can only be a good thing for Australia's critical minerals sector.

However, Australia still faces regulatory and policy challenges in attracting continuous foreign investment – notably FIRB – but also other regulators such as competition, property and environmental authorities. To date, and until the Network and other initiatives are embedded as part of the investment landscape, proponents have been managing existing financial and regulatory hurdles through bespoke structuring arrangements, such as strategic partnerships and offtake prepayment arrangements.

Looking ahead FIRB’s role will continue to shape the mining sector in Australia, particularly for critical minerals. As global competition for these resources intensifies and national security concerns remain high, understanding FIRB’s evolving framework will be crucial for the sector. Mining companies and investors must adapt to these changes to ensure that their projects not only meet the demand for critical minerals but also align with Australia's strategic and regulatory priorities.

Here are some key recommendations for participants in Australia’s mining sector: 1. Proactive engagement with FIRB and government stakeholders Companies should engage with FIRB and government stakeholders early in the investment process. Providing transparent information about foreign partners, supply chain security, and the intended uses of the minerals can increase the likelihood of investment approval and reduce risks of delays.

Aligning projects with Australia's national interests and demonstrating their contribution to critical minerals supply chain resilience will be key to

attracting FIRB’s support.

2. Building strategic partnerships with trusted investors FIRB takes a cautious approach to investments from high-risk jurisdictions, with typically less scrutiny on partnerships that align with Australia's strategic interests.

Companies can reduce regulatory risks by forming joint ventures with trusted investors from nations with strong ties to Australia, such as the U.S., Japan, and South Korea.

3. Adapting to FIRB’s long-term focus on national security FIRB’s evolving role reflects broader concerns about Australia’s long-term economic and security interests.

Companies should prepare for increased regulatory scrutiny at the approval stage and throughout the lifecycle of high-risk projects, particularly in sectors like rare earths and battery minerals. Strong internal governance and adherence to ESG (environmental, social, and governance) standards will help companies secure FIRB approvals and attract high-quality investors.

4. Positioning for policy and market shifts Companies should stay updated on FIRB and government policy changes and adapt compliance practices to reflect evolving investment rules.

Global decoupling from Chinese mineral processing offers Australian mining companies opportunities to strengthen their position in international markets by securing valuable partnerships and exports.

5. Seizing opportunities in critical mineral processing FIRB’s role goes beyond regulating foreign investment; it also influences the broader strategy to ensure Australia captures more value from its resources through domestic processing. Companies should consider investing in downstream processing in Australia to align with the government’s goals of reducing reliance on foreign processing.

The future of the Bowen Basin

Summary As Australia works towards solidifying its role as a global leader in critical minerals, FIRB will continue to be a key player in shaping the future of the industry. Mining companies must be prepared to navigate this evolving landscape, ensuring their projects meet both FIRB’s stringent requirements and Australia’s broader national security objectives. New players seeking to enter the manufacturing and processing of these minerals will also need to be alive to these same issues.

By taking a strategic, long-term view and engaging proactively with FIRB and government stakeholders, participants in the sector can ensure their operations contribute to a secure and sustainable future for Australia's critical minerals industry. This approach will not only safeguard national interests but also unlock new opportunities in the rapidly evolving global market for critical minerals. 

Mining companies must be prepared to navigate this evolving landscape, ensuring their projects meet both FIRB’s stringent requirements and Australia’s broader national security objectives.

Image: Turnbull Photography

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Growth and diversification: supplying steelmaking raw materials Matt Latimore, President M Resources

A

s the planet moves through a period of unprecedented change and investment, both steel and the raw materials required for steelmaking will remain at the centre of economic development in our region and across the globe.

By providing substantial amounts of the coal and iron ore required for steelmaking, Queensland and Australia will continue to play a crucial role in the future of the global economy. The fundamentals that we at M Resources see in our resources outlook convince us that the supply of steelmaking raw materials, including coal, will remain an important part of this picture for decades to come.

Our coal is perhaps more important today than ever before, as it enables the transition and electrification of our energy systems. Electric vehicles, solar panels, wind turbines, and transmission upgrades all require steel.

Our outlook: forward-leaning, highconfidence M Group is an Australian company 46

BBMC Yearbook 2024

focused on supplying steelmaking raw materials to the world’s most significant steelmakers, during a phase of great transition in the Australian metallurgical coal sector.

Since 2016, we have grown our coal handling ten-fold, and invested in businesses adjacent to metallurgical coal, such as coal haulage, underground mining services, and port and mine infrastructure. A recent investment was in vanadium, a critical mineral with applications in steelmaking.

We are doing this because we have high confidence in the future of the metallurgical coal and steelmaking industry. Our view is centred on balancing the most basic economic equation: supply versus demand.

Over the next few decades the fundamentals of demand steelmaking raw materials, including metallurgical coal, remain very strong. In contrast supply will continue to be constrained.

The result is scarcity.

Where will new steel demand come from?

New demand for steel will come from continued strong economic growth in advanced and developing economies.

The United States is undertaking one of the greatest ever expansions of infrastructure expenditure in its history.

In India, Southeast Asia, and China,

industrial bases and infrastructure delivery are growing rapidly.

There is also a massive global energy transition underway, requiring more copper, nickel, critical minerals, and iron than forecast production can supply. Steel is a critical ingredient for this transition, needed for energyefficient homes and buildings, electric vehicles, solar panel arrays, wind turbines, and electricity infrastructure, including significant upgrades of energy transmission.

Well-known sources like Boston Consulting Group, McKinsey, and Bloomberg estimate the scale of investment in energy transition will range from US$100 trillion to US$300 trillion by 2050. These extraordinary numbers highlight the incredible investment in technology and construction required to ensure reliable and safe energy supply for the planet through to 2050.

M Resources is dedicated to meeting the ongoing demand for steelmaking raw materials. We will continue to strengthen our existing partnerships and build new ones to deliver critical raw materials to the world.

Will the demand for metallurgical coal last?

An important part of our mission is understanding the place of metallurgical coal in all of this. Today, most global steelmaking continues to be from BF-

The future of the Bowen Basin

BOF (Blast Furnace-Basic Oxygen Furnace) requiring coking coal, for which there is no currently available, at-scale alternative.

While ‘Green Steel’ is receiving investment and the technology is developing, the scale of steel demand means that metallurgical coal will be required for the long term. Key factors for this include: • Increasing installed capacity for BFBOF steelmaking.

• A lack of scrap and high-grade iron ore pellet products.

• Concerns over access to sufficient capacity of green hydrogen and energy.

This means that a transition to green steel is uncertain, particularly given that investments in new EAF steelmaking capacity are highly capital-intensive and have long payback periods.

Anticipated constraints on supply of met coal While demand for steel made with metallurgical coal remains strong, its supply is likely to become increasingly constrained. Underinvestment, slow approvals, finance restrictions, and high and increasing levels of regulation are significant concerns for our resources sector and steelmaking customers.

Prime hard coking coal assets are becoming increasingly scarce.

Greenfields projects are slow and rare in Australia, while expansions and life-of-mine extensions require great patience and access to alternative, nontraditional, non-bank sources of capital.

In summary, demand for steel will remain high, alternatives to using metallurgical coal will remain limited, and new metallurgical coal developments will be slow and constrained. The result is that metallurgical coal prices will stay stronger for longer.

How does metallurgical coal fit into the climate change picture?

We are conscious that steelmaking currently contributes just over 7% of global emissions.

At the same time, steel is a critical enabler in reducing emissions across three broad sector categories.

• Energy use in industry, excluding

iron and steel production, contributes around 17% of global emissions.

These emissions can be reduced by using steel to upgrade and replace energy systems using solar cells, wind turbines, and electricity transmission infrastructure necessary for electrification.

• Transport contributes around 16.2% of global emissions. Steel is essential to the task of replacing fossil fuelbased transport with electric cars and buses in particular, as well as other modes of transport such as non-fossil fuel ships and airplanes.

• Energy use in buildings, both commercial and residential, contributes around 17.5% of global emissions. These emissions can be reduced using steel to gradually replace and upgrade homes and buildings to make them more energy efficient.

In addition, by contributing to the electrification of energy systems, steel can also help reduce fugitive emissions from energy production (5.8%) and unallocated fuel combustion emissions (7.8%).

Steel made using metallurgical coal is an enabler and will play a role in reducing close to two-thirds of the world’s emissions. Trying to achieve energy transition without using steel made with coal would be like tying our hands behind our backs. Delivering energy transition, decarbonisation, and electrification in the required timeframes means that steel made using metallurgical coal is the most viable pathway.

Boston Consulting Group, McKinsey, and Bloomberg estimate the scale of investment in energy transition will range from US$100 trillion to US$300 trillion by 2050.

A bright future for metallurgical coal I like talking about my confidence in metallurgical coal’s bright future. After reading this piece, I hope that readers might have a better sense of why.  BBMC Yearbook 2024

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Image: Pembroke Resources

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The future of the Bowen Basin

Evolving the Bowen Basin: a new era for sustainable mining Barry Tudor, Chairman and Chief Executive Officer Pembroke Resources

A

s the founder of the world’s newest steelmaking coal complex, I have witnessed firsthand the profound transformations occurring within the world’s premier steelmaking coal basin.

It’s no secret that this region’s rich deposits of metallurgical coal are a critical component in producing the new steel that is essential to the development of many of the world’s largest economies. In this regard, the Bowen Basin is one of the world’s greatest 'engine rooms'.

However, in addition to this role, the Bowen Basin is also at the forefront of a muchneeded evolution in the mining sector.

The growing societal expectations and demands from stakeholders necessitate an evolution in traditional mining practices toward a broader, more responsible and ethical approach.

The call for change The global landscape has shifted dramatically in recent years. As developing nations in Southeast Asia accelerate their industrialisation efforts, the demand for highquality metallurgical coal from the Bowen Basin has never been stronger. However, this demand comes with increasing expectations.

Today’s customers, whether they are steel producers in Japan, South Korea, Europe or India are not only seeking reliable products but are also demanding sustainable and ethically sourced materials.

In response to this, the coal mining industry in Queensland is evolving.

Traditionally, the overwhelming focus has been on maximising productivity and meeting the customers’ technical coal quality specifications. However, the new paradigm demands that we also prioritise environmental standards and social responsibility.

Stakeholders, including customers, employees, traditional owners, governments, and financiers expect coal mining operations to demonstrate accountability, transparency, and a commitment to sustainability.

Implementing a new approach for customers and the environment Environmental stewardship Environmental performance has become a non-negotiable expectation for modern mining companies. Consumers today want coal producers to actively reduce carbon footprints, enhance biodiversity outcomes, and mitigate the impacts of mining activities across a wide range of areas including delicate ecosystems, water sources, and air quality.

Where financing operations used to be overwhelmingly focused on profitability and return on investment, many lenders now prioritise an operation’s Environmental Social

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and Governance (ESG) credentials. New mines must now implement initiatives that prioritise environmental and social goals.

Even the mining industry now celebrates such achievements in equal part to traditional productivity through environmental and Indigenous awards.

Biodiversity – the new focus Biodiversity is poised to become the defining topic in the ESG conversation, potentially surpassing carbon emissions as the focal point of sustainability discussions. As the global community increasingly recognises the interdependence of ecosystems and human well-being, stakeholders are demanding that mining companies take proactive steps to protect and enhance biodiversity. This shift highlights the need for robust environmental practices that not only minimise harm but also demonstrate a net positive impact on ecosystems.

Mining can be nature-positive by integrating biodiversity considerations into every aspect of operations, from planning and extraction to rehabilitation and closure. Companies are now challenged to implement strategies that enhance local habitats, protect endangered species, and promote ecosystem resilience. By doing so, mining operations can contribute to broader conservation efforts while maintaining their social license to operate. The future of mining lies in showcasing tangible results that affirm a commitment to biodiversity, positioning the industry as a vital player in the global pursuit of sustainability.

Accountability and transparency Transparency in operations has become essential as customers seek clear communication about environmental impacts and supply chain accountability. In 2024, we must recognise that our stakeholders expect us to report on social investment initiatives, sustainability projects, and updates on our environmental performance.

To meet these expectations, companies now actively share metrics related to greenhouse gas emissions, water usage, and rehabilitation efforts. Mining companies are also engaging third-party auditors to verify their claims, ensuring that they uphold their commitments and maintain trust with stakeholders.

Image: Pembroke Resources

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Embracing renewable energy As the world increasingly shifts toward renewable energy sources, we understand that our operations must adapt. Customers are now looking for coal companies that can demonstrate a commitment to transitioning toward cleaner energy solutions. This involves becoming more energy-efficient and diversifying energy portfolios to include nontraditional sources of energy.

Several operations in the Bowen Basin are integrating the use of natural gas generated from mining and solar as new energy sources, significantly reducing reliance on traditional energy sources. This not only lowers our greenhouse gas emissions but also enhances the sustainability of our mining activities.

The vast open spaces of the Bowen Basin and natural resources make it an ideal location for such initiatives, enabling us to harness natural energy resources efficiently.

Beyond compliance The landscape of regulations surrounding carbon emissions and environmental standards is rapidly evolving. Modern customers expect coal companies to be proactive in anticipating these changes. This means going beyond mere compliance with existing regulations; it requires demonstrating responsibility and foresight.

By anticipating regulatory changes, we can position ourselves as leaders in the industry rather than reactive participants.

This proactive approach not only meets customer expectations but also fosters trust among investors and stakeholders who are increasingly focused on ESG criteria.

Social responsibility and community engagement The role of coal companies extends beyond extraction. We must actively engage with local communities and traditional owners. Modern expectations demand that we understand and respond to the needs of these stakeholders.

This includes developing partnerships and programs that provide employment, training, education, and infrastructure. Several Bowen Basin miners have initiated community engagement programs focusing on mental health support, childcare, and housing, thereby addressing emerging community needs alongside our mining operations.

By involving local stakeholders in decisionmaking processes, we can exceed customer expectations and secure our social license to operate.

Innovation is at the heart of modern mining practices. Our customers expect us to leverage new technologies that enhance efficiency, reduce costs, and minimise environmental impacts. This encompasses a range of innovations, including automation, carbon capture and storage (CCS), and methane abatement strategies.

Automation and AI-driven monitoring systems allow us to optimise our operations, reduce risks, and limit carbon emissions associated with traditional mining methods.

By embracing these technologies, we can demonstrate our commitment to modernisation and sustainability - essential qualities for maintaining our position as a leading supplier of metallurgical coal.

Real - not theoretical sustainable practices In order for any environmental or ESG practices to gain credibility, they should pass the ‘pub test’. They need to be real, not merely theoretical. Many companies have historically touted ambitious sustainability initiatives and goals without providing concrete evidence of their implementation. To truly resonate with stakeholders, businesses must demonstrate tangible results and a genuine commitment to their practices. This means showing how sustainability is embedded in their operations, allowing them to point to specific achievements that validate their claims.

Credibility is built on transparency and accountability. Companies should clearly outline their initiatives, such as effective water management, biodiversity efforts, and rehabilitation projects, and provide specific examples and measurable outcomes.

Wherever possible, these actions should go beyond superficial compliance. They should reflect a deep-seated commitment to preserving the environment and enhancing community well-being.

Real and demonstrable collaboration with local communities is essential. Engaging with stakeholders like Indigenous groups and regional centres ensures that operations respect cultural heritage and contribute to local economies. An integrated approach not only strengthens the business’s social license to operate but also fosters a sustainable future for all parties involved.

The future of the Bowen Basin

Innovation and technology: the path forward

Ultimately, true sustainability is about walking the talk and making a real, tangible, positive difference. A truly holistic approach is not just about compliance; it’s about building a sustainable future for everyone involved.

A future-oriented vision As we navigate the complexities of a rapidly changing world, it is clear that the Bowen Basin must evolve beyond its traditional role as a coal-producing region. The pressures of climate change and societal expectations are compelling us to embrace a more sustainable, transparent, and socially responsible approach to mining.

This shift is not merely about meeting current demands - it is essential for securing our longterm relevance in the market. As consumer expectations continue to rise, we must look to best practices and innovative solutions that ensure we remain the world’s leading supplier of quality metallurgical coal on a sustainable basis.

The mining industry is at a crossroads. By prioritising environmental stewardship, transparency, and social responsibility, we can position ourselves as leaders in the new era of mining. Together, we can ensure that the Bowen Basin not only meets the demands of today but also paves the way for a sustainable future. This is the path forward for our industry, one that aligns with the values of our customers and the needs of our communities. 

The future of mining lies in showcasing tangible results that affirm a commitment to biodiversity, positioning the industry as a vital player in the global pursuit of sustainability.

Image: Pembroke Resources

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Foundations first: driving growth in a challenging economic environment Marcelo Matos, Chief Executive Officer and Director Stanmore Resources

T

he mining sector, and in particular metallurgical coal producers, have experienced increasingly dynamic conditions in recent years, with global events creating economic uncertainty and volatility. Record high commodity prices gradually normalised through 2023 – 2024 amidst pressure on operating costs, as the post COVID-19 inflationary environment and Queensland royalty changes saw the mining sector battle cost inflation of approximately 50% over the two years to June 2023.1 There have also been shifts in risk, with the top concerns for 2024 being climate change, commodity price and social licence to operate.2 52

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How can organisations weather these dynamic conditions? By returning to foundational operating principles.

This has proven an effective strategy for Stanmore Resources for fostering growth and sustainability.

So, what are our foundational operating principles?

• Simplicity and practicality • Agility and flexibility • Collaboration and continuous improvement • Employee empowerment Simplicity and practicality There is enduring value in simplicity of operations — avoiding complexity for complexity’s sake. Focusing on practical, actionable solutions can deliver reduced costs, improved focus on core objectives and easier adaptability to external pressures.

With practical, streamlined processes and decentralisation, we have achieved a nimbler operating model, and this approach has helped us to execute a large capital investment program, including key projects such as our Mulgrave Resource Area 2C (MRA2C) Project at the South Walker Creek (SWC) mine, which is tracking well ahead of schedule and under budget.

MRA2C has been a significant accomplishment for Stanmore, with

the 8.6km creek diversion and 6.5km of levee banks requiring more than 6.5 million cubic metres of earthworks over the last 14 months. Once complete, the project will deliver access to 58Mt of high quality run-of-mine coal at low strip ratios for an extended period, solidifying South Walker Creek’s first-class operating status in the Bowen Basin.

Agility and flexibility Not only does having a simple and practical base achieve efficiencies, but it also enables organisations to pivot quickly by avoiding the delays and inefficiencies of overly complex systems. Being agile and flexible allows you to proactively adapt to change and leverage innovation for success.

It delivers an improved ability to seize new opportunities, helps mitigate risks and enhances competitiveness in fastchanging environments.

Stanmore has managed to realise the benefits of agility and flexibility by leveraging proven technologies and innovations to enhance operations through projects such as the recently completed dragline upgrade at SWC to convert the rotating electrical components to Alternating Current (AC). The fleet of two draglines at SWC is responsible for uncovering approximately two thirds of all metallurgical coal mined and hence, is critical to the overall success of the operation.

Collaboration and continuous improvement We view collaboration and continuous improvement as ongoing pursuits rather than one-time initiatives. It has been our experience that these practices lead to shared knowledge, cross-functional innovation, and efficiencies that help us do more with less.

For example, collaboration between our SWC and Poitrel operations facilitated swift reinstatement of the SWC coal handling, processing and preparation plant (CHPP) when critical spares were sourced from Poitrel following lightning damage.

During 2022 and 2023, Poitrel sought year on year improvements on truck and excavator performance across site. This was achieved by enabling small incremental improvements collaboratively driven by multiple departments. From refuelling times to shift change, this approach proved itself successful and has ultimately culminated in a reduction in operational delays and production records in 2024.

In September 2024, Stanmore purchased from industry peers the rights to explore, study and then apply for a future mining lease to mine the open cut Rangal measures on a tenement immediately adjacent to Stanmore’s existing Isaac Downs mining area (the Isaac Downs Extension project). Subject to mining approvals, the addition of this tenement to the existing project area is expected to improve economics and extend the life of the overall operations beyond the currently mined Isaac Downs

The future of the Bowen Basin

Having recognised the significant benefits of AC conversion in the other dragline, Stanmore promptly identified the need to have a plan to convert the second dragline, which would mark SWC as the first mining operation in Australia to have a fully converted AC dragline fleet. The conversion program was completed in just 74 days — testament to the commitment and agility of our dedicated team. This upgrade solidifies long-term reliability, delivers improved production and safety, and lowers emissions. It also supports our ambitious expansion at SWC where we are aiming to increase annual production by over 10% to seven million tonnes within a year.

pits. The combined resources comprising the Isaac Downs Extension project provide a high-quality metallurgical coal and capital-efficient project that aims to utilise Stanmore’s existing CHPP capacity, dragline and associated infrastructure at the Isaac Plains Complex for years to come.

Employee empowerment The success of an organisation is fundamentally reliant on its employees because they are the driving force behind innovation, productivity and stakeholder satisfaction. Empowered employees — those who feel supported, valued and equipped with the right tools — bring their best to work every day, fostering a culture of collaboration, creativity and accountability. When your employees are motivated and aligned with your mission, they not only deliver exceptional results but also cultivate stronger relationships, ensuring the organisation thrives in a competitive and ever-changing environment.

Empowering our employees is part of Stanmore’s DNA; it’s embedded in all areas of our operations. We utilise a site-centric operating model to drive transparency and accountability, granting our employees autonomy and valuing their insights.

An example of this is the work of our team at the SWC CHPP who reduced downtime and coal loss on the back of unplanned shutdowns by changing the way they bring water back into the plant. This is one of many examples of empowering our teams on the ground to take action and implement solutions to improve on issues that directly impact their area of work.

This approach drove incremental and sustainable improvements, allowing our SWC operation to achieve its all-time production record in 2023.

A key area where we have seen significant benefit across our organisation from our empowerment approach is in health and safety, which is the most critical focus for us all in the mining sector.

At Stanmore, there is mutual ownership and accountability for health and safety outcomes. Our Leading Safety Program is guiding a shift from a compliance-led culture to one where our people feel psychologically safe and empowered to take action to ensure their safety and that of their workmates. As part of the program our leaders engage directly with employees and contractors to elevate health and safety into the forefront of our thought processes when planning and completing tasks across our operations. We have further embedded a safety focus by including health and safety targets in our short-term incentive program.

Proven outcomes of organisational growth and success Returning to foundational principles is not just a response to current challenges; it is part of a forward-thinking strategy that ensures longevity and resilience.

Stanmore’s results are indicative of this.

In spite of operational impacts from adverse wet weather events in the first quarter of 2024, we recovered well and met Guidance. We ended September 2024 with strong saleable production supported by numerous production records, as well as healthy levels of product and ROM stockpiles across our portfolio.

This demonstrates that despite economic uncertainty, organisations with the right tools can thrive with solid foundational principles.  1 Institute for Energy Economics and Financial Analysis, Shifting sands: the evolution of coal mining costs in Australia, 7 May 2004 2 KPMG, Australian Economic Outlook: Q3 2024, 30 September 2024

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Australian coal – the essential resource for building nations and powering economies Danny McCarthy, Managing Director TerraCom Limited

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gainst a backdrop of ongoing geopolitical issues, economic headwinds and energy transition challenges, our industry has continued to demonstrate the important role it plays in supporting our communities and our stakeholders.

Coal currently outperforms all other energy sources in terms of supply security, reliability and affordability. There is an energy transition coming, but coal will be around for a lot longer than the media narrative indicates.

Coal continues to be in strong demand in our key markets, and we will continue to meet this.

The role of coal in the energy market “Other than for water, coal has been the most important commodity used by mankind for thousands of years. Over the past 200 years, it has been the greatest contributor to enhancing the lives and lifestyle of everyone on the planet that has had access to it. The great Industrial Revolution that began in the middle of the 19th century would not have happened if cheap and plentiful coal had not been available to power steam engines of the time. Even in the 20th and 21st centuries when coal was faced with competition from other energy sources like oil, gas, hydropower and even nuclear, it remained the energy source of choice for more than half of the world’s energy needs. Why was that? Its high demand was (and still is) due to its low cost versus its high energy output and its ready availability”.

(Alan G Lawrenson, 2024, p. 51)

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Blair Athol: "The Bedrock" Blair Athol mine became the first open-cut coal mine in Queensland in 1964. Coal was first discovered there in the 1920s-1930s, initially extracted using underground shaft mining methods.

Larger-scale open-cut mining began in 1936, leading to the complete closure of all underground operations.

We’re grateful for the positive reception we've received in the region since taking ownership of Blair Athol and restarting the mine in 2017.

We look forward to working together to continue building on the long history of coal mining and positive legacy in the communities in the Bowen Basin.

Fast forward to 2024, TerraCom’s Blair Athol, with a healthy mine life of eight years exports 1.8 million tonnes per annum of high quality, low ash, low impurity thermal coal to primary markets in Japan, Korea and India. Beyond this, we are thrilled to be establishing a larger local presence in Clermont using Blair Athol as an infrastructure, processing and logistics precinct via our agreement to develop and manage the nearby Moorlands Coal Mine. This asset has sufficient resources to support a mine life in excess of 25 years. First coal is expected in 2026.

TerraCom will partner with Wintime Energy Group Co. Ltd, the owner of the Moorlands Coal Mine, to provide full-service development, management, and all mining services. This initiative creates long-term employment opportunities, fosters community prosperity, and invigorates the regional economy. We look forward to creating positive legacies with all stakeholders as we expand our footprint in this coalproducing region for many decades to come.

stakeholders, whether through our operations, our rehabilitation projects, community engagement, economic contribution or the taxes we pay. Coal mining is not a zero-sum game: there needs to be a net benefit to the community and stakeholders.

Coal’s place in the future

Most of the developing world will be burning coal for the next 30-40 years at least, so we need to be better at explaining that the world is better off burning Queensland’s low ash, low impurity, more efficient coal.

We acknowledge we all have a role to play when it comes to reducing or offsetting our environmental impacts but equally, without coal, the lights go off and electricity becomes unaffordable for consumers, producers and manufacturing. And Australia becomes an unattractive place for investment and productivity.

A key fact often overlooked or disregarded is that a significant percentage of coal pollutants can be abated, and material efficiency gains can be achieved through existing technologies. Many methods are being investigated and deployed globally, despite the negative sentiment circulated, particularly among the global north.

Coal will continue to be a significant contributor to global electricity. Fossil fuel sources contributed 65% of total electricity generation in 2023, including coal (46%), gas (17%) and oil (2%). But by 2030, even based on the International Energy Authority’s conservative forecast, coal will be needed to supply around a 26% share of a much larger and more diverse energy pie. Beyond that, of course, is coal’s criticality in the manufacture of steel, cement, aluminium, fertiliser and allied industries for the foreseeable future.

We’re encouraged by our newly elected Premier of Queensland David Crisafulli’s recent statement: “The notion that by the early 2030s you can turn off Queensland’s baseload power without impacting reliability or people’s hip pocket is fanciful, and even the Government’s own energy department has said so.”

We endeavor to craft our business proposition around what is important for our

TerraCom joins with all Queenslanders to promote and advocate for the continuing growth and prosperity that realistic, future-focused policy and leadership in the resources sector and the government can sustain for the long term. 

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The future of the Bowen Basin

The Bowen Basin is a globally renowned coal producing region with a rich history and today remains Australia’s primary reservoir of coal resources. It continues to be a cornerstone of Queensland’s Permian wealth supporting 554,728 jobs in 2024.

Getting the balance right so the Bowen Basin can continue to thrive Paul Flynn, Managing Director and CEO Whitehaven Coal

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s we approach the end of an eventful 2024, the mining industry continues to prove its resilience and ongoing importance to the Queensland economy.

With the energy transition, industrial relations and project assessment processes featuring prominently in policy discussion at all levels of government, mining remains integral to Australia’s future direction and prosperity – as it has been throughout our recent past.

Against this backdrop, it’s important our industry continues to stand up for itself and advocates for appropriate regulatory settings that enable us to maintain the significant contributions we make.

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The ATO’s latest Corporate Tax Transparency Report showed Australia’s mining industry remains the nation’s biggest taxpayer, contributing $43.1 billion in company tax for 2022-23 – the second consecutive year the sector has paid more in tax than all other industries combined. This was supplemented by a further $31.5 billion in royalties, highlighting the crucial role mining plays in keeping our economy strong and funding the essential services that Australians rely on every day.

Our companies are also responsible for billions more in economic support for regional communities across the country. In FY24, Whitehaven invested $669 million in our North West NSW regional communities via procurement, salaries and wages, and corporate community partnerships and donations, and we’re excited to expand this investment into the Bowen Basin via our recently acquired Blackwater and Daunia mines in the decades ahead.

Mining’s role as Queensland and Australia’s economic engine room is one we should all be very proud of and it’s appropriate that, as an industry, we take some time to reflect on our successes and sharpen our focus as we look ahead.

Building our presence in the Bowen Basin 2024 has been a transformative year for Whitehaven Coal, marked by a successful entry into the Bowen Basin.

The acquisition of Blackwater and Daunia in April has seen us successfully reposition our business in line with our long-held strategy to grow in metallurgical coal. It was a strategic investment to evolve, diversify and derisk our business.

Through the acquisition, we have roughly doubled our production and opened the door to new and critical market segments across Asia, where demand for both metallurgical and thermal coal will remain strong for decades to come.

The future of the Bowen Basin

Today, we are proud to have a workforce of around 3,000 people across Queensland making a real impact in communities throughout the state.

Image: Whitehaven

Today, we are proud to have a workforce of around 3,000 people across Queensland making a real impact in communities throughout the state.

We are committed to building lasting relationships in the region, and we were delighted to host our first Queensland Community Open Day in Blackwater in November.

Our commitment to supporting local communities has seen us hit the ground running and spend some time speaking with stakeholders locally to identify areas of need. We recognise the importance of supporting the communities that support us, and we’re pleased to have funded the first round of our Community Grants Program for 28 community organisations and causes across Central Queensland, including Blackwater CWA, Moranbah State School, Emerald Neighbourhood Centre and CQU’s U-Beach Disability Support Program.

The next grant round opens on 1 January 2025, and we look forward to extending the reach of our support in years to come.

Importantly, our first two quarters in Queensland have also been strong from an operational perspective, with both Blackwater and Daunia making substantial contributions to the business and achieving some notable productivity gains.

The ongoing importance of the metallurgical coal these mines produce was validated by our agreement to sell 30% of the Blackwater mine to Nippon Steel and JFE Steel – key customers of ours in Japan and significant users of Blackwater metallurgical coal. This strategic joint venture reinforces the strong long-term demand for metallurgical coal in more mature markets such as Japan and our customers’ desire for greater security of supply.

It is interesting that, directionally, our bigger customers are more often starting to look for joint venture partnerships, offtake agreements and greater duration in their contracts with us. As Nippon Steel noted in its forthright commentary when we announced the deal, customers are growing increasingly concerned about the supply of high-quality metallurgical coal required to help them reduce emissions in their steel-making methods and build the infrastructure needed to decarbonise.

While this bodes well for demand for our products and helps to maintain a supportive pricing environment, it is an area of particular concern and focus for our export partners across Asia who rely on our coal.

As an industry, we recognise this issue must be addressed but it will require coordinated backing from governments and considerable ongoing investment – both of which are becomingly increasingly difficult to secure.

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While coal markets have largely stabilised following periods of uncertainty in recent years, the operating landscape in Australia continues to be tested by the forces of politics and policy.

Getting the balance right The resources industry is responsible for so much of Australia’s economic prosperity and resilience, particularly in our regions, but unfortunately we’re seeing governments increasingly take this contribution for granted.

When Australia’s world-leading resources sector does well, Australians all benefit. However, despite this, we have had to endure a range of punitive policy interventions in our industry that make it substantially harder and more costly to do business, and to attract the investment dollars we rely upon to grow.

Whether it’s royalty increases, industrial relations changes or significant approval delays arising from unnecessarily protracted State and Federal Government assessment processes, these interventions undermine Australia’s status as an investment destination and curtail the economic contribution of the coal industry, which has underpinned Australia’s prosperity for decades.

Royalties, in particular, is a topic that has continued to receive plenty of airtime this year in the context of the Queensland election. The case in support of our industry, and the significant impact this onerous royalty regime has on our operations, has been well made by many and I know we are all hopeful that the new Crisafulli government will be receptive to a more reasonable approach in time.

Royalties are an illustrative example of the balance that governments need to consider between what is in the long-term interests of the people of Queensland, versus the opportunity to chase short-term revenues. Our industry knows that producing commodities is a cyclical business, where short-term increases in commodity prices and higher revenues are needed to cover the cycles of weak prices and lower revenues.

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Unilaterally passing additional cost imposts under the guise of political necessity does nothing but undermine confidence in our future.

Bowen Basin producers are up against competitors in markets outside Australia where the coal is often cheaper, of poorer quality, and produced via less sustainable mining practices.

Despite the challenges we have faced, and those that lie ahead, we remain steadfast in our optimism for the Bowen Basin and the outlook for the industry more broadly.

It’s important that our leaders get the balance right and create a competitive regulatory environment to set Queensland up for long-term, sustainable success.

Looking ahead Despite the challenges we have faced, and those that lie ahead, we remain steadfast in our optimism for the Bowen Basin and the outlook for the industry more broadly.

Metallurgical coal is Queensland’s biggest export and the coal industry contributes 22% of Queensland’s gross regional product. Regional communities and the Bowen Basin’s world class resources sector are already playing a leading role in supporting South East Asia and India, which are at the centre of coal consumption growth and the ongoing expansion of steel demand.

Commodity Insights forecasts global seaborne demand for metallurgical coal to grow by 28% from 2024 to 2040, driven

by India, while Wood Mackenzie forecasts 29% growth into Asia by 2050.

Countries like Japan, India, Vietnam and South Korea rely on Queensland’s energy exports and high-grade coals.

These powerful and important strategic partnerships will continue for decades to come as millions of tonnes of steel is produced each year to support construction, expand transport and manufacturing capacity, and to build the region’s low emissions energy infrastructure.

While demand is forecast to increase, supply is also expected to tighten due to large mines reaching their end of mine-life and the underinvestment in development projects. According to Commodity Insights, this will result in a 74 million tonne shortage in supply of seaborne metallurgical coal by 2040.

For us at Whitehaven, this not only means our products will continue to be highly sought after, but that our development projects such as Winchester South in the Bowen Basin provide us with a competitive advantage and further growth opportunities.

It also highlights the importance of the industry working together with policymakers to enable and encourage further growth and project developments.

The decades ahead bring the potential for an exciting period of growth and an opportunity to deliver even more longlasting benefits for regional communities across Queensland, but it must start with getting the regulatory settings right now. 

The 'big picture' of ESG

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BBMC Updates BBMC Updates

Image: Turnbull Photography

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BBMC Updates

2024 BBMC LUNCHEONS

The Bowen Basin – a united front for the strong future of coal

BMA speeds into the future, with local partnerships as the fuel in the tank Jessica Simpson, Head of Procurement, BMA 14 February 2024

“There is nothing more important than the safety of every employee, contractor and supplier who works on our operations, for our operations and travels on our roads.”

Performance

At the first sold-out Bowen Basin Mining Club luncheon event for 2024, BMA Head of Procurement Jessica Simpson updated businesses directly on BMA’s strategic direction.

Ms Simpson started by reiterating the message BMA gave the last time she addressed the BBMC in May 2021, as the industry worked through the pandemic recovery phase. The strong message is that continuing robust local collaboration and partnership is still the direction to follow for future stability and growth.

“The last time I was here, I told stories of people who helped us get through the pandemic, and how collaborating with our supply chain was key to that period and into the future. That hasn’t changed, and it’s still the direction we need to go.”

Safety Ms Simpson noted safety is a noncompetitive space and she appealed for innovators with ideas to come forward.

She cited a recent example of safety innovation in a local partnership with BHP Goonyella’s maintenance and tyre bay team. The tyre rim lock solution eliminates risk, with operators employing a new retainer bolt while changing large tyres. The invention won the BHP’s Global Safety Award in 2023.

Ms Simpson took the opportunity to update the audience on BHP’s halfyear results. Overall, BHP enjoyed a solid first half, with strong performance in iron ore, copper, and energy coal, but a challenging landscape for met coal. Lower production was the result of a significant increase in planned maintenance and an extended longwall move. Production was also impacted by an increase in prime stripping to improve supply chain stability off the back of wet weather and labour issues last year.

“I am proud, within that operating environment, that BMA continued to have strong success in our economic and value contributions. Last year BMA spent over $1 billion locally, and we are on track to exceed that this financial year.”

BHP’s purpose is bringing resources and people together to build a better world, and their strategy remains unchanged – to have the best assets, in the best commodities supported by the best capabilities.

High quality met coal will remain desirable for decades to come. Ms Simpson explained that “to harness that opportunity, BMA is in the midst of navigating a transition to emerge in the north stronger, and set the foundation to become the safest, lowest cost, and industry-leading high-quality metcoal producer. We are on the journey to build a better BMA, in safety, culture and performance.”

‘Voice of Vendor’ workshops underway While there are well-known headwinds facing the industry, stability is particularly important to BMA. The government’s policy on royalties makes it a challenge to remain competitive, but Ms Simpson noted that suppliers’ knowledge and capabilities are crucial to building stability. To address this, she explained that the company is running an extensive series of ‘Voice of Vendor’ open conversations to explore how BMA and suppliers can improve how they work together – and nothing’s off the table.

Working collectively

“The leadership team and I are confident that if we have a strong commitment to collaboration, we’ll be able to be safer, more efficient, more sustainable and more agile. I want to encourage you all – if you see waste, or a better way of doing things, tell us!”

The demand outlook for minerals remains strong, but to successfully respond to world demands, Ms Simpson says we have to work collectively to achieve common goals.

The luncheon wrapped up with an extensive engagement session in which Jessica and her team spent time with many of the suppliers in the room, oneon-one.  BBMC Yearbook 2024 2023

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Enduring value found in supply chain partnerships: Anglo American Melissa Hall, Performance and Inclusive Procurement Specialist, Anglo American 27 March 2024 From inclusive procurement to shorter payment terms, both the aspirational and the practical were on the table for a heart-to-heart between Anglo American and the BBMC at our March luncheon. Souths Leagues Club hosted 180+ attendees from across the supply chain, all eager to hear from Melissa Hall, Anglo American Performance and Inclusive Procurement Specialist.

The discussion ranged from a high-level overview of the role of mining supply chain partnerships in delivering enduring value, to very practical tips for tendering and advice for approaching the right contact in supply and procurement.

Anglo American is wellknown to the Bowen Basin supplier community across their five steelmaking coal operations from Dawson in 62

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the south to Moranbah North and Grosvenor in the north.

Perhaps less familiar to the audience is Anglo American’s Social Way 3.0 – its social performance management system, and important for suppliers to understand, according to Ms Hall.

small businesses can bring to our supply chain. Small business is agile, responsive and has room to grow. The demand for steelmaking coal is only increasing, so our opportunity to empower local business stretches into the future.”

Ms Hall particularly focused on Anglo American’s global inclusive procurement policy: championing sustainable, responsible local procurement that positively contributes to a resilient supply chain as well as the economic and social development of the communities in which Anglo American operates. She says the local element of procurement is not seen as an onerous box to tick, but an enormous advantage on the ground.

However, there are barriers to entry into any large supply chain that Anglo American is working to address. Payment times are a particular example, and Ms Hall says despite the industry norm of 60-day payment terms, a different way is possible, including for smaller businesses that need that cash flow for innovation.

“When we need equipment or labour, we need it quickly and we need it in-region. A large percentage of our local suppliers are actually very competitive on price with our major suppliers – if you want to do efficient, timely business for the right price, small business has a lot to offer.”

“There are opportunities across the whole value chain from exploration to closure, and we need the resilience

Tendering was a particular point of discussion, as Ms Hall answered the burning question: what does make a good tender – and what gets a tender rejected outright?

The answer: wide-ranging statements with no substance and demonstration, like ‘we will’ or ‘we think’. As Ms Hall explained, “It’s one thing to tender and say ‘we will do’, but now we’re getting serious about coming back to those businesses and asking what they have done.”

That shouldn’t discourage businesses from tendering,

though – quite the opposite.

While Anglo American acknowledges the tender process can be complex, proving results and demonstrating substance, no matter your business size, is the way to get noticed.

“Don’t discount the opportunity for future business if you can’t meet the full scope of a tender – you’ve got to be in it to win it. Putting in a tender does put you on the radar of procurement, and if you work alongside another small or Indigenous business to tender, that shouldn’t disadvantage you.”

And the final point – the key to doing business well is communication. Ms Hall says it’s an enduring partnership, and talking to your local supply chain business partner to discuss availability of your equipment or your services helps to create this partnership.

“Reach out regularly to let us know what your business is doing – where your equipment or people are going to change, and then the supply chain business partner can have the right discussions on site to work around potential roadblocks.” 

Andrew Kazakoff, General Manager Business Development, M Resources 30 May 2024 In a first for the Bowen Basin Mining Club, attendees to the May luncheon were introduced to M Group and M Resources – a diversified player in the Bowen Basin and Hunter Valley with aspirations to service the entire global steel value chain.

Founded in 2011 by Matt Latimore and still proudly headquartered in Brisbane, M Resources has a global reach into major coal markets. It ranks among the top five global exporters of coal and holds the position of the world’s largest PCI exporter.

Attendees heard from Andrew Kazakoff, M Group’s General Manager Business Development, who gave an overview of the group’s operations and long-term diversification strategy.

Recent asset investments, including the purchase of One Rail Australia and South32’s Illawarra Coal Complex, strongly position M Group to provide value to the global steel industry throughout the value chain. The company’s operations and interests include mining operations, mining services, coal marketing and trading and market intelligence, infrastructure, shipping and logistics, and mine rehabilitation.

While the company’s operations are widespread, for many attendees it was the first time hearing about the breadth of M Group and its influence – right down to their 2023 acquisition of a controlling

share of Metarock and its Mackay-based Mastermyne and MyneSight businesses.

The overarching message of the presentation was a that strong future is ahead for the global steel industry, particularly in terms of meeting climate targets.

While this may seem counterintuitive, Mr Kazakoff pointed out that changes needed to meet a 1.5-degree global warming target include the need for more steel through blast furnaces using coal and the increase of electric arc furnaces in the world’s steelmaking capacity - a scenario that relies heavily on scrap steel, an area of growth for the company.

On the back of a strong demand scenario for coking coal for several years to come, Mr Kazakoff believes that the company is strategically positioned to

supply their customers for many years to come.

“Our strategy is evidence that we are long-term supporters of the coal market, particularly metallurgical coal. The Bowen Basin has a bright future and we’re very keen to remain in this market and engage with suppliers in this space.”

Commenting briefly on this year’s ‘flurry’ of assets exchanging hands, including Blackwater and Daunia along with the potential sale of Anglo American’s metallurgical coal assets, Mr Kazakoff believes that the action will soon settle to a long-term holding scenario.

“I think we’re entering an era where you’re going to find a long-term holder for some of these assets that are being divested. M Resources will continue to be a long-term holder of met coal assets with our partners.” 

Committed to the sustainable exploration and production of critical resources.

High value, low impact, low cost seismic. oceaniageo.com | linkedin.com/company/oceaniageo

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BBMC Updates

A diversified future is a strong future: M Resources

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Paul Flynn, Chief Executive Officer, Whitehaven Coal Janette Hewson, Chief Executive Officer, Queensland Resources Council 5 September 2024 The annual Rockhampton luncheon hosted a sold-out crowd of resource sector businesses and supporters, featuring an industry address

by Janette Hewson of the Queensland Resources Council and a fireside chat with Paul Flynn of Whitehaven Coal.

Introducing the event, Rockhampton Regional Council Mayor Tony Williams acknowledged the mining industry’s importance to the local economy.

“40% of the Rockhampton economy relies on the resources sector, with 12,000 local direct jobs in the local council area, and a further 6,000 jobs in neighbouring Livingstone,” said Mayor Williams.

This importance was echoed in Queensland Resources Council CEO Janette Hewson’s industry update.

"Here in the Fitzroy region, which includes Banana, Central Highlands, Gladstone and Rockhampton Local Government areas, the resources sector spent $4.2 billion in the 2022-23 year, including with 2,438 local businesses and 549 charities and sports clubs."

"Since June 2023, the resources industry in Queensland exported $58.3 billion worth of coal, with $48.4 billion of that as metallurgical coal and $9.9 billion worth of thermal coal.

We are Queensland’s biggest export industry, comprising 82% of all exports when you consider the LNG industry as well.”

As the state counted down to the 2024 election, Janette used the opportunity to highlight the QRC’s 2024 Election Priorities. Focusing on competitive and stable policy, a fair return for the regions, skills for the future, and energy security, diversity and transition, the QRC’s priorities are aimed at keeping Queensland competitive.

“We’re offering real solutions to the incoming government, not just a statement on how things aren’t working.

The QRC is sending a clear message to all sides of politics that the industry must be consulted to ensure a pipeline of investment in resources for the security of Queensland's future."

Whitehaven Coal CEO, Paul Flynn joined BBMC Director Jodie Currie for a fireside chat to round out the luncheon’s program.

As the recently established owners of both Blackwater and Daunia mines in Central Queensland and the proponents of the recently approved Winchester South Mine, Whitehaven is now a significant player in the Queensland mining industry.

Paul was buoyant about the company’s presence in Queensland, saying that the balance of Queensland assets brought a significant diversification to Whitehaven.

“We were drawn to Queensland to balance our business with the acquisition of metallurgical coal assets, rounding out our thermal coal portfolio in NSW’s Gunnedah Basin. Whitehaven now has scale and long-life assets in the Bowen Basin, with 20 Mtpa in the state to balance our 20Mtpa of capacity in NSW.” “While our first quarter results are satisfying, there has been some change to the way we operate. Our company is structured very differently, with a lot more simplicity, but we’ve seen a whole new enthusiasm in the workforce on our Queensland sites.”

Commenting on the recent sell-down of 30% interest in Blackwater, Paul linked the strategic choice to bringing Whitehaven closer to its customers.

“The demand through the competitive asset sale showed that interest in the Blackwater and Daunia assets were very high. We see long-term value in partnering with Nippon Steel and JFE as long-term Tier 1 users who want our metallurgical coal.

Their partnership validates the ongoing demand for our product internationally.”

“However, their investment is also tinged with a hint of anxiety about the future of supply, based on the current royalty scheme in Queensland. As long-term purchasers of Blackwater coal, these companies no longer believe there is security in Queensland policy, and that should be worrying.”

Speaking further on royalties, Paul was to the point: the top-tier rate of 40% is not a royalty, it’s a super profits tax.

BBMC Updates

Balanced and buoyant: Whitehaven Coal on their future in Queensland’s coal sector

“The cost base of the coal industry has just increased in response to the royalties driving inflation rather than balancing it. As a company, we are up for paying royalties on the resources we mine.

However, we are putting the capital up and taking all the risks, and now the peaks of our returns have been well and truly capped. If we have lower margins and more volatile returns, the entire industry - right through to suppliers - suffers.”

Of clear importance to Whitehaven is the establishment of the company as a long-term partner to the communities in which it operates. Paul used the event to announce the first Whitehaven Coal open day at Blackwater, hosted for the community and also suppliers.

Flynn also spoke about Whitehaven’s role in the newly formed Coal Australia, saying it doesn’t replace any existing advocacy, but helps to streamline coal’s messaging in the Australian marketplace and educate Australians about the need for coal into the future.

And it’s clear Whitehaven is excited about that future.

“The Bowen Basin is the premium coal basin in the world, positioned in relation to both existing and future consumption. We have both quality and proximity to market - and our company has just invested $7 billion to become a part of of Queensland’s metallurgical coal industry - so of course we see a strong future here.”  BBMC Yearbook 2024

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People power: C-suite panel reflects on industry progress Nick Jorss, Executive Chairman, Bowen Coking Coal Shane Hansen, Chief Executive Officer, Kestrel Coal Danny McCarthy, Managing Director, TerraCom Limited Craig McCabe, Chief Executive Officer, Jellinbah Group 20 November 2024 Skills, royalties and decarbonisation have a surprising element in common, as revealed by our guest C-suite panel.

That element is people – working together to solve the problems, seize opportunities and create a long-term future for the mining industry.

Over the lively discussion, the panel covered topics from royalties to ESG, divestments, decarbonisation, critical industry skills shortages and safety.

Opening on royalties, the panel got straight to the heart of the matter: the outlook for change under the new Crisafulli government. While election promises to maintain current royalty arrangements will not change in the shortterm, there is optimism around the ‘long game’ of industry and government sitting down to negotiate.

Nick Jorss believes this should happen in the near future, saying “Older mines will deplete and shut down over time, so we need to be planning now to keep the pipeline of projects open and attractive to investors.”

Danny McCarthy agreed, saying the costings and

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alternatives needed to be clear. “Everyone’s project has a different cost base so a tiered option is difficult to orchestrate – it will take some cool heads and everyone to have a seat at the table to get a working solution on royalties.”

Decarbonisation and ESG were also hot topics, with some frank discussion about the future of net zero and the energy transition for the sector. While decarbonisation remains a priority in line with Safeguard Mechanism targets, views differed on the long-term outlook of the energy transition.

Some operations, like Kestrel’s single-mine operation, were heavily affected by Safeguard Mechanism legislation due to methane escaping ventilation.

Their solution, incorporating treating ventilation air and capturing methane to power the site, is in development, according to Shane Hansen.

“We’re looking at technology that treats ventilation air to reduce our emissions, as well as channelling some of that captured methane into gasfired power. These solutions should be up and running in the next few years, with the opportunity to generate more Safeguard Mechanism credits than we’re using from our baseline. The capital investment was significant but it was the push we needed.”

Other executives agreed that the focus of operations on reducing emissions made good business sense, with Craig McCabe calling the reduction of diesel use a “mining engineering problem”. Nick Jorss agreed, saying that at Burton mine alone, the cost of diesel for generation was well over $1 million each month.

However, on a question around whether a switch from diesel-power to coalfired grid power was simply ‘shifting emissions’, Danny McCarthy made the point that site-level solutions aren’t going to solve bigger problems in the energy transition.

“The right thing to do is to transition to some other form of cost-effective sustainable energy but it must be done together – individual solutions aren’t going to move the needle enough,” he said.

The theme of an industrywide approach to problems continued throughout the discussion, particularly around regional liveability and skills.

A particular concern is the skills drain in the industry, both as experience leaves the workforce and other industries offer the same pay as mining.

As Craig McCabe said, “The grey hair and knowledge that’s leaving the industry isn’t being replaced in terms of breadth of experience, and compounding the problem is the fact that younger people aren’t willing to relocate to the regions. That presents a concern going forward, particularly with the Olympics and the building program that will lead up to 2032 – in terms of skills, we’ve already tapped most of the regions, and if qualified tradies or engineers can stay in Brisbane and earn the same money, they will.”

Agreeing, Danny McCarthy said “We have a skills crisis, not a skills shortage. Until we face this reality, we’re not going to move the needle – we’re just stealing each other’s people from site to site. We need a whole-ofindustry strategy to fix the skills crisis and ensure we have a pipeline of skilled workers for the future.”

Regional liveability compounds the skills crisis, which Nick Jorss believes is linked in part to a lack of investment in the regions.

Citing the example of the state of disrepair of the Peak Downs highway, Mr Jorss said that the regions that generate royalties are overlooked.

“If people can’t be safe on the Peak Downs highway while they’re driving to work to create royalties, why would they want to live in the regions? There’s just not the pride in the industry that

there once was – the regions that generate coal royalties should be seeing the benefit of that money.”

Danny McCarthy said that FIFO isn’t the answer to skills shortages either, even if direct flights are offered in and out of the Bowen Basin.

“While not everybody wants to live in Central Queensland, putting on planes and turning CQ into the Pilbara isn’t the answer either. Regional liveability is really important – it’s not just about attracting the mining workers, it’s the support people and the families whose lives are regional. Pride in the industry is a big part of that: in the 90s, every kid whose parent was a miner saw their future in working at a mine, and that was a clear career path for them. You just don’t see that anymore.”

On predictions for 2025, people power was once again the focus of discussions.

Following a significant political shift in the regions, Danny McCarthy summed up the sentiment as a “groundswell of people with a voice who haven’t had one before.”

“There’s a realisation that voices are being heard around how tough it is in the regions – this is a space to watch in 2025, as the Bowen Basin is not to be underestimated,” said Mr McCarthy.

Nick Jorss ended the event with a call to join Coal Australia and continue the growing momentum of grassroots support for the industry in 2025 and beyond. 

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BBMC Updates

Shane Hansen also agreed, saying, “We face significant challenges in attracting experienced trades people, operators and professionals who are in high demand, as many prefer flexible FIFO) or DIDO arrangements over committing to residential roles.”

The 2024 Queensland Mining Awards – Honouring excellence and innovation in mining

T

he 2024 Awards recognised Queensland’s best and brightest resources contractors, suppliers and producers, with peer-judged awards presented over eight hotly contested categories addressing safety, collaboration, environment and innovation, with a mammoth 70 entries this year.

The culminating highlight of the 2024 Queensland Mining and Engineering Exhibition, the QMA Gala Presentation Dinner was a celebration of eight categories of finalists and winners, including one winner of the prestigious Queensland Mining Contractor of the Year, Stratalock.

StrataLock’s new resin re-engineered a solution to a longstanding challenge in traditional strata stabilisation techniques for underground mining, replacing hazardous chemicals and reducing fire risk in the application process.

Judges were impressed with StrataLock’s dedication to development of the product, which took seven years to research, test and patent. Innovating every aspect of conventional techniques, from formulating a totally new product, through to engineering purpose-built manufacturing facilities and a new application system, StrataLock left no stone unturned.

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As well as changing the health and safety profile for this work, StrataLock unlocks productivity gains and cost savings by removing restrictions. StrataLock resin is not classified as hazardous waste, saving transport and disposal costs and minimising environmental impacts.

In his speech BHP Mitsubishi Alliance (BMA) Asset President, Adam Lancey, said the outlook for Queensland’s world leading metallurgical coal is robust, with long-term demand from global steelmakers to continue several decades into the future.

Over the course of the evening, the audience heard a keynote address from Adam Lancey, Asset President of BMA and an industry address from Janette Hewson, Chief Executive Officer of the Queensland Resources Council.

“Our industry is positioned to continue to perform for the benefit of all Queenslanders and the Australian economy – but we must have a government that can deliver stable policies and fiscal settings, practical approval frameworks, and trading arrangements to attract the investment needed to produce the resources which underpin the global energy transition.”

Ms Hewson praised the sector’s achievements, saying it was fantastic to see what’s often a behind-thescenes effort brought into the innovation spotlight.

“It’s our industry’s commitment to world’s best practice that has earned the Queensland resources sector an international reputation for excellence. Much of that innovation is driven right here in Mackay, home to Queensland’s internationally renowned METS industry. The equipment and technology made here keeps not only Queensland’s resources sector operating, but also many countries around the world that look to our expertise to provide the very best equipment to maximise productivity and safety.”

Judge Dr Sharna Glover, CEO of technology ecosystem consultancy Imvelo, says it was a pleasure to have a front-row seat to the industry’s innovations, seeing how companies create clever solutions with global applications.

“From world-leading biodiversity protocols to protect koalas and greater gliders, to harnessing AI for smarter wash plant controls – we’re seeing fantastic innovation right from the top of the industry through to the smallest businesses. It’s our duty as an industry to spread the word of this innovation and help to build support for Queensland’s innovators on the global stage.”

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Pirtek Safety Award

Recognising the most outstanding initiative to make safety a priority on-site, including continuous improvement and full integration into a project/initiative, with real results able to be demonstrated.

WINNER

FINALISTS

BIGMATE Dragline Proximity Awareness System

ANGLO AMERICAN Tele-remote dozers on coal stockpiles

Bigmate adapted its proximity detection technology for a dragline, using optical and LiDAR sensors to eliminate blind spots and collect 360-degree data. Bigmate’s solution is integrated into the dragline’s internal operating system to inform the operator of impending danger. The system meets international safety standards and allows the operator to oversee movements around the dragline.

Anglo American is minimising the significant risks coal stockpile dozer operators face by introducing remote operation technology. The system can be retrofitted into any mixed fleet, offering advanced controls with sound and vision aids, enabling uninterrupted operation on coal stockpiles or other difficult environments.

MADER In-vehicle fleet safety Mader’s Driver Fatigue Monitoring System is elevating safety standards for drivers in their 1,100 vehicles.

It deploys fleet tracking with satellite technology, a mandatory alcohol interlocking system and fatigue detection cameras. Within 8 months, this technology has reduced over-speeding to zero across the fleet and returned zero occurrences of drink-driving.

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Glencore Productivity Award

Austmine Innovation METS Category

WINNER

WINNER

MTI GROUP BlastScout uses radar and GPS for accurate, faster drill hole measurement

STRATALOCK StrataLock Resin: Next step in ground consolidation

This category recognises a contractor or supplier that has completed a project which, through an innovation or new process, resulted in a significant reduction in initial estimated time or cost.

This category recognises the most original and ground-breaking approach to a project, including any new concept, technology and/or innovative process that was instrumental in increasing operational efficiency or improving project delivery.

Traditional quality controls for measuring drill holes have a history of inaccuracy. MTi Group’s BlastScout uses radar technology to accurately measure depth and location of holes, with results linked to GPS and uploaded directly to engineers. Faster and more reliable data makes for operational efficiency and superior quality control.

StrataLock has patented a non-hazardous, low-exothermic alternative to traditional strata stabilisation chemicals. This product exceeds current safety standards, streamlines strata consolidation, and minimises downtime. When trialled at Carborough Downs Mine, StrataLock Resin completely eliminated exposure to carcinogens and showed a 50% improvement in application time.

FINALISTS

FINALISTS

AAMG TECHNOLOGIES Enhancing remote access control with sensors and automation

HASTINGS DEERING Working at Heights Platform

AAMG’s advanced automated system enables proactive remote decision-making and removes the need for manual asset inspection. The improved systems can monitor dam levels, automatically notifying the platform to start pumps and fill the dam to pre-set parameters. This reduces labour significantly, delivering a positive return on investment within a year.

Hastings Deering’s Working at Heights Platform was engineered specifically to integrate into service vehicles, providing a stable, elevated workspace. It can be deployed by one technician and exceeds safety parameters. It also has the potential to be used and modified across the industry, saving time and maintenance costs and mitigating personal injuries.

ICUTTER INDUSTRIES PDC drill bit technology for efficiency and sustainability A 100-year-old practice has been transformed, with the introduction of iCutter Industries’ polycrystalline diamond compact (PDC) drill bits to blast hole rotary drilling. Their innovative design delivers extended usage, 30% higher drilling rates, and repairable drill bit bodies. By reducing single-use drill bits, less material is sent to landfills and drilling costs are slashed.

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HE PARTS Turn Over Frame Innovation HE Parts’ innovative hands-free solution negates the safety risks around complex multiple crane lifts to disassemble heavy vehicle front assemblies. Using the Frame, one operator can turn over the assembly remotely from an exclusion zone, eliminating manual handling and crane-related incidents. Soon, this technology will be freely available for wider industry use.

bbmc updates

National Group Community/ Staff Engagement/ EEO Initiative Award This category recognises the most outstanding community or internal consultation and engagement project or the most outstanding initiative to promote equal opportunity (whether indigenous, women in mining or a regional initiative).

WINNER

FINALISTS

BMA AND ASTUTE, IN COLLABORATION WITH CHILDCARE LEADERSHIP ALLIANCE Strategic innovation in regional childcare

ANGLO AMERICAN Intersectional Trauma-Informed Psychosocial Management

Moranbah and Dysart childcare facilities faced significant issues, needing 50 staff to cater for 270 new children.

The negative impacts of the shortage rippled through the communities. The Childcare Leadership Alliance mobilised to attract staff internationally, providing affordable housing and professional development. Within 12 months, 100 families gained a childcare placement, with 27 new staff in place.

Anglo American developed an industry-first intersectional trauma-informed psychosocial management program to improve psychological and cultural safety in at-risk demographics and marginalised people. Created in response to the often hidden and complex workforce health and safety hazards, the program has resulted in improved return to work outcomes and employee retention rates over 80%.

BRAVUS MINING AND RESOURCES Building a happier and healthier Carmichael community After a 2022 review into the wellbeing of Fly In Fly Out staff Bravus, assisted by catering and facilities partner Sodexo, developed and delivered new facilities, classes, events and wellness education. The site has seen a 690% improvement in social participation and a 356% improvement in fitness class attendance.

GLENCORE Journey to JobFit At their Aurukun Bauxite mine, Glencore created the Journey to JobFit project to build up a local Indigenous workforce. The project aimed to combat substance abuse, disease, and access to healthy food, achieving physical and health requirements for sustainable employment among participants. In 2023/24, 74 participants met the threshold for employment.

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Hastings Deering Environment Award

This category highlights the most innovative approach to environmental protection, rehabilitation or net-zero commitments.

WINNER PEMBROKE RESOURCES Biodiversity protocol for endangered fauna Pembroke Resources have broken new ground in biodiversity management, implementing a four-phase clearing protocol.

The protocol, assisted by telemetric monitoring, raises the bar for wildlife protection globally. With the protocol in place, the detection rate for koalas and greater gliders is 100%, ensuring the endangered species were safely relocated prior to land clearing.

FINALISTS BRAVUS MINING AND RESOURCES Wildlife monitoring and conservation using Artificial Intelligence and Machine Learning Bravus’ research program uses bioacoustics to recognise the call of the Southern Black-throated Finch, providing crucial insights to improve understanding of the animals’ location to avoid species-threatening land degradation. With the equivalent of 12 years of audio data, the team created a machine learning model to interpret the huge volume.

CS GAS Improving environmental outcomes in coal seam gas processing CS GAS pioneered the Workover Solids Treatment Trailer, transforming efficiency in this essential component of coal seam gas operations. Operating on-site with advanced automation for 100 workovers, this innovation saved the equivalent of 2,300 truck loads of clean water, produced 762 tonnes of fill and reduced costs by $500,000 monthly.

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bbmc updates

Pentacon Innovation Miner Award

This category recognises the most original and ground-breaking approach to a project including any new concept, technology and/or innovative process that was instrumental in increasing operational efficiency or improving project delivery.

WINNER

FINALISTS

CORONADO GLOBAL RESOURCES Plant Advisor: Harnessing AI to optimise coal processing capabilities

ANGLO AMERICAN Tele-remote dozers on coal stockpiles

Coronado’s AI-based Plant Advisor has radically transformed many facets of wash plant operations. It optimises wash plant planning, working in tandem with human expertise rather than replacing it. This introduction has resulted in new capabilities for tighter control of ash in clean coal, resulting in increased yields and reduced waste.

Anglo American is minimising the significant risks coal stockpile dozer operators face by introducing remote operation technology. The system can be retrofitted into any mixed fleet, offering advanced controls with sound and vision aids, enabling uninterrupted operation on coal stockpiles or other difficult environments.

PEABODY LiDAR torpedo probeng Following a 2018 underground fire at Centurion Mine Complex, the engineering team designed a Surface to Seam Torpedo Probe. Using LiDAR, mitigates underground risks and enables quality visibility at significant depths not previously accessible. With damage repaired, the mine is re-opening with the extraction of its first coal in five years.

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QME Best New Product Award

This category highlights the most innovative product launched during 2022-24.

WINNER COREHESION Stone Dust Management System for de-risking and standardising Corehesion has automated steps in stone dust management, creating a single source of truth for sampling, results, and retreatment with a Ziltech sampling device. This removes the high risk of coal dust explosions while simplifying and standardising management. Their innovation reduces a six-hour task to minutes, saving hundreds of thousands of dollars.

FINALISTS MAVEN GREENTECH AirX Robot for revolutionary air filter cleaning Maven Greentech’s robot-driven system for mine site and workshop air filter cleaning is a first. The system offers dry pulse cleaning, integrity testing, and data support. When deployed at Glencore’s Hail Creek Mine, 99% of dust was removed from large diesel engine air filters, and monthly landfill was reduced by 9.2 tonnes.

STRATALOCK StrataLock Resin: Next step in ground consolidation StrataLock has patented a non-hazardous, low-exothermic alternative to traditional strata stabilisation chemicals. This product exceeds current safety standards, streamlines strata consolidation, and minimises downtime. When trialled at Carborough Downs Mine, StrataLock Resin completely eliminated exposure to carcinogens and showed a 50% improvement in application time.

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79 BBMC Yearbook 2024 www.surelift.com.au

Blackwoods Collaboration Award This category recognises the most outstanding collaborative effort between producers and contractors/suppliers, delivering results and enhancing cost-saving, time-saving and/or innovative outcomes.

WINNER

FINALISTS

MACKELLAR GROUP | MANABOTIX Enhanced safety measures using Bund Monitors

CORONADO GLOBAL RESOURCES | BIGMATE | PFi Dragline Proximity Awareness System

Manabotix and MacKellar Group’s Bund Monitors radically enhance vehicle safety in open-pit mines. This real-time technology operates proactively, reducing the likelihood of accidental collisions and compliance challenges. First trialled on water trucks at Jellinbah Mine, 100% continuous proximity compliance was achieved for all critical bunds.

Following extensive collaboration and work across multiple disciplines with original equipment manufacturers around Australia and overseas, Coronado, Bigmate and PFi developed the Dragline Proximity Awareness System. Cameras, LiDAR and RADAR are managed by AI, giving the dragline operator complete control and visibility over every part of the dragline, eliminating blind spots.

JET GROUP | MASTERMYNE Automated Cartridge Bolter - hands-free roof bolting system JET Group and Mastermyne’s automated cartridge bolter is the industry’s first hands-free roof bolting system. With collaborative input, the team designed a streamlined, intuitive control system by redesigning a surface mining cartridge for underground use. The system works seamlessly with existing equipment, enabling hole drilling up to 12 meters without operator intervention. 

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Your Process Partner Screens  Centrifuges CHPP Maintenance Screen Media  Poly Guarding Consumable Spare Parts

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BBMC Yearbook 2024

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2024 BBMC Crib Room Podcast

N

ow in our fifth year, The BBMC Crib Room continues to give you a seat at the table as we get to know today’s thinkers and innovators who are leading the charge to a bright future for mining.

Nothing is off the table in The Crib Room – here’s what we discussed!

Interested in catching up on past episodes? Search ‘BBMC Crib Room’ wherever you listen to your podcasts, or visit bit.ly/cribroompodcast.

SEASON 5 EPISODE 1/2 The critical mineral called basalt with Andrew Pedley, Director, Carbonaught Following up on a fascinating article published in the 2023 BBMC Yearbook, we dug into the background of Carbonaught’s leaders and talked about the ‘new’ future of a very old product of extraction – basalt. Andrew Pedley, one of the founding directors of Carbonaught explained how the business is finding ways to leverage the opportunities for basalt and the mining companies, as well as creating a pathway to low emission food production.

Known for centuries as ‘volcanic soil’, basalt is widely valued for its soil improvement and fertilising properties on farmland. As Andrew says, “Ask any Italian nonna who knows how valuable that volcanic soil dust is on the veggie garden!”

Carbonaught is the creation of a group who all worked for a major mining services contractor. With the safeguard emissions and energy transition as a frame, they decided to use the physical link between mining operations and farmland to create a win-win combination, changing basalt from a cost to a value stream. The goal is to change the perception from mining as the ‘bad guys’ to a local partner to boost ag production and reduce emissions at scale.

Interestingly, the team proved the concept of zeroing carbon at scale by blowing up a site in New Zealand, creating a year’s worth of carbon offset in one drill and blast operation.

Image: Turnbull Photography

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Serendipitously, basalt on the Eastern seaboard of Australia and on most mine overburden and dump sites contains major amounts of basalt. And agricultural land generally abuts mining leases, or is not far away. Simplistically, Carbonaught is a small start-up that takes basalt from a mine site and spreads it on surrounding farmlands – from there, nature takes over, fertilising the soil.

This is where a modern outlook, science and software have allowed the company to monetise and leverage this simple action. We now know that basalt creates a chemical reaction that removes vast amounts of carbon from the atmosphere, locking it away permanently. Now mines can claim emissions reductions nearing 100% (recently set at $57/tonne), which also adds to their financial viability profile, easing capital costs. Overburden becomes a commodifiable feature, rather than an environmental liability.

Other benefits Australian producers can leverage include better overburden management, reduced distances from face to dump, and a huge lift in the site's sustainability profile. Andrew added, “Looking at cost of capital, sustainability becomes a key part of the solution, so having a project like this happening on site becomes a big part of the conversation.”

Basalt is used everywhere, mainly as road base and in asphalt production. Globally, there’s only one group in the USA, a group in Brazil and another in the UK. So Carbonaught is the Australian company promoting this approach to food security couple with net zero carbon offset.

As Andrew explained, “The Carbonaught technology and application can be exported anywhere as a ‘drag and drop’ operation, so there is great potential for Australian leadership. We see basalt as a critical mineral in its own right and very similar to a traditional extractive industry, without the steep cost curve compared to the extraction of many other critical minerals. Understanding that core dynamic for a business model view allows us to click our farmers and mining clients into low emission food, rather than carbon credits. As a service provider we see that as our value proposition, and we focus on the win win through every phase of a project.”

We asked Andrew how the market is receiving this revolutionary concept and engaging with the possibilities. He said that Australia is just waking up to the potential, but in terms of recognition Elon Musk’s Foundation voted Carbonaught as one of the 25 best carbon removal companies in the world in 2022.

SEASON 5 EPISODE 2/2

Nick Rees is a mining engineer turned finance professional with extensive experience in some of the biggest overseas projects as well as Australian resources project financing. He founded Bridgend Capital Advisory, a firm that provides capital and debt advisory services for the resources industry.

We discussed Nick’s evolving career, linked to the changing landscape of financing for mining and resource projects, particularly those involving carbon-intensive industries like coal oil and gas.

Nick explained that the turning point in resources financing began around 20152016, triggered by the Paris Agreement (COP 21), increased environmental activism like the campaign against Carmichael, and mounting pressure on banks to reduce carbon-intensive investments. Larger producers started divesting coal assets led by Rio Tinto and Anglo American, creating a new ecosystem of mid-tier coal companies (and this divestment trend is not over yet).

Nick was quick to point out this wasn’t necessarily a negative, as new smaller businesses bring fresh perspectives and can have the agility to manage financing differently. Many assets have moved from "unloved" major miners to focused mid-tier companies, opening up opportunities for new ownership to improve mine performance and profitability.

Companies must now navigate a more complex, multifaceted capital landscape, often requiring combinations of different capital sources and strategies, like:

The financing landscape for junior explorers and producers is the most challenging. While mid-tier companies like Whitehaven and entities with larger equity backing have more options, smaller ASX-listed juniors struggle to secure traditional banking support. This financing challenge is not unique to coal but extends to emerging critical minerals projects as well.

Nick noted the irony of the current situation - while the resource industry has significantly improved its environmental management and community engagement over the past decade, it faces increasing financial challenges at the same time.

Nick pointed out that the critical minerals sector was still finding its feet, much like Queensland's coal industry, which, in reality, took 50-60 years to develop.

While government support existed, he warned that just calling something a ‘critical minerals project’ didn't automatically open the funding floodgates. Giving the example of Arafura in the NT, where significant government funding is forthcoming, he added, “We’re seeing the government across the board stepping up its commitment to critical minerals. That being said, it's still not easy.

And even where government support is available, often it's not enough to get a project fully funded, and there's still a requirement for other forms of commercial debt capital, as well as equity.

And there's a lot of critical mineral companies and projects that have still not been able to unlock the full capital solution, even with government support.

But certainly, the government support is something that isn't there for coal.”

He noted that investors still need to see strong fundamental financial underpinning for this emerging sector, and significant uncertainties about future supply and demand: “There just isn't that maturity in the market to be able to address what is often one of the biggest risks in any project, and that is the price risk.”

With his overview of the industry over many years, we asked whether he thought we had seen the last greenfield thermal coal project in Queensland.

While Nick saw the potential for metallurgical coal developments, given strong demand, he anticipated more brownfield expansions. He highlighted another significant industry irony: despite strong demand for Australian coal, if investment continues to be constrained by financial and regulatory challenges, the outcome could potentially lead to supply decline and international competitors filling the gap – a scenario Nick called “insane.”

Ending the conversation on a lighter note, Nick shared an interesting historical tidbit about coal's surprising connection to brewing. In the 17th century, English brewers found that turning coal into coke helped them roast malt more efficiently, leading to the invention of pale ale - a perfect example of how industrial progress can influence culinary traditions. 

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Mining finance, risk and investment with Nick Rees, Bridgend Capital

• Eliminating debt and operating on a cash basis • Shifting to global debt capital markets • Seeking financing from foreign banks • Exploring commodity prepayment options • Using emerging private credit funds from hedge funds and special situation funds

Lessons from the energy transition Lessons from the energy transition

Image: Thiess

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The decarbonisation opportunity for metals and minerals Rohitesh Dhawan, President and Chief Executive Officer International Council on Minerals and Mining

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elieve it or not, my message is actually found in comic books, science fiction and even the Bible.

Have you ever heard the phrase “With great power comes great responsibility”? Spiderman fans will recognise that. And what about “There’s no such thing as a free lunch”? Credit for that goes to science fiction writer Robert Heinlein. And finally, the idea that “to whom much is given, much will be required” from Luke 12:48 in the Bible.

They all say essentially the same thing – that with privilege and opportunity comes responsibility. So, what does that have to do with decarbonising mining? Well, everything actually.

As we have heard many times, mining is essential to decarbonising the world. Metals and minerals like copper, lithium and cobalt are critical inputs to clean energy technologies like electric cars and wind turbines. As a mining industry, that is our privilege; our opportunity to be the backbone of the world’s transition to clean energy – a transition that needs to happen, and fast.

But it comes with a responsibility – to not add to the problem we exist to solve. As the provider of materials for decarbonisation, the production of metals and minerals itself needs to become emissions-free. Only then can we be a true partner to the energy transition. Otherwise, it would be like taking a pill to cure an illness, only for that pill to make your illness worse!

I am very sensitive to the principle of common but differentiated responsibility. That means that while we all have a role to play in fighting climate change, richer and historically developed nations must assume a greater share of the burden than countries with lower per capita incomes, whose development should not be unfairly curtailed.

Even so, the beauty of decarbonising mining is that it is, in fact, a huge opportunity, and companies in all countries— developed or developing - will find it in their interest to do so. Removing CO2 from the ways metals and minerals are produced and used can help make operations leaner, cheaper, and more efficient.

So, what will it take, and where is the opportunity? Five key numbers illustrate what is needed: • Zero: Or Net Zero, to be precise. This represents the commitment made in 2021 by the members of ICMM – who collectively represent one-third of the global mining and metals industry – to our Scope 1 and 2 emissions by 2050 or sooner.

Many companies have individual targets that are even more ambitious, but net zero by 2050 provides the North Star for the decarbonisation journey for mining companies. And by committing to such a goal, it opens up a world of possibilities.

• Fifty: This is the percentage of a mine’s emissions that are typically associated with the use of diesel in mining trucks, although it can go as high as 70%. There are an estimated 28,000 mining trucks in operation globally, producing 67 million tonnes of CO2.

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Lessons from the energy transition

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As an industry, our privilege is the opportunity to be the backbone of the world’s transition to clean energy – a transition that needs to happen, and fast. But this comes with a responsibility – to not add to the problem we exist to solve.

This has so far seemed like an insurmountable challenge, as batteries or hydrogen technology has not been viable at scale to move loads of up to 400 tonnes. Thanks to initiatives like ICMM’s – Innovation for Cleaner Saver Vehicles (ICSV) initiative – we should have zero-emission vehicles available at scale by 2030, a full 10 years ahead of the best estimates when we started this programme in 2018, which brought the CEOs of mining companies and equipment manufacturers together to accelerate development cycles. Even better, switching to zeroemission alternatives also often provides the window to make these vehicles safer, thus helping meet our highest priority of keeping workers safe at all times.

• One hundred: This is the percentage of renewables in the energy mix of many large mines, today. Antofagasta – one of the world’s largest copper producers, uses 100% renewable energy. As does Vale – one of the world’s largest iron ore miners – for all operations in Brazil. So does Anglo American across all their operations in Latin America and Australia.

There are many more examples, and through these, mines have been the catalytic force for the growth of renewables for entire regions and countries. All while reducing costs and improving operational reliability – not to mention the brand and reputational benefits.

• Ninety-five: This is the percentage of the total footprint of some mined commodities that is generated from processing and use, known as Scope 3 emissions. While some other sectors have sought to distance themselves from their Scope 3 emissions, I am proud of the fact that leading mining companies recognise their responsibility to help decarbonise the value chain of metals and minerals, including the parts we don’t directly control. This is best done by using our influence with suppliers and customers, developing solutions that help them decarbonise, and jointly investing in R&D. • Seventy: This is the number of new initiatives launched

by ICMM members since the signing of the Paris Agreement to reduce the Scope 3 emissions of our mined materials. These include joint investments in loweremission steelmaking technologies, efforts to decarbonise the shipping of our ores, and the development of new products like iron briquettes that reduce emissions in their processing.

What’s more, many of these were undertaken in partnership – sometimes with competitor mining companies, other times with customers and suppliers. This shows what we can achieve when we work together, to reduce emissions from the value chain of metals while building new business lines that are fit for the future.

However, more does not equal better. In fact, in some cases, we need fewer initiatives. There are currently many overlapping and duplicated voluntary standards of responsible mining, covering decarbonisation as well as other aspects of ESG. And on this front, I have great news for companies who are scratching their heads as to which of those standards to follow.

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Image: Pure Gold Films

Four of the leading voluntary standards of responsible mining – including ICMM, the World Gold Council, Copper Mark and the Mining Association of Canada – are in the process of consolidating our four individual standards into a consolidated global standard with an independent multi-stakeholder oversight system. The Consolidated Mining Standard, which will be launched next year, will be available for all mining companies to adopt, no matter where you are in your sustainability journey. The first of two public consultations has just been launched and you can follow progress on the Consolidated Mining Standard Initiative’s website.

So, whether you get inspiration from comic books, science fiction, or religious texts – the message is the same. As miners, our role in the energy transition is essential. And therefore, so is our responsibility to decarbonise our operations and products.

By committing to net zero, adopting emissions-free mobile equipment, investing in renewable energy, embracing our Scope 3 emissions, and working in partnership with others – we can turn this responsibility into our greatest opportunity.

A version of this speech was delivered by Rohitesh Dhawan, President and CEO, ICMM at the FT Live's Energy Transition India Summit in October 2024. 

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Applying ESG fundamentals from boots to boardroom Ngaire Tranter, Principal Wattle Environmental

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or both sports and the mining game, Michael Jordan captured it best when he said, “Get the fundamentals down and the level of everything you do will rise.” Since Environmental, Social and Governance (ESG) started topping the mining industry risk lists the focus has gradually shifted from the fundamentals of social and environmental performance to branding and reputational management.

Image: Pure Gold Films

if you are playing by the rules or compare performance more broadly to understand if you’re delivering to a particular standard.

ESG as a concept is, in fact, 20 years old. It was introduced into the business lexicon in 2004 by a United Nations Compact focused specifically on ensuring that capital investment considers the issue of sustainability.

Since that time, numerous publications and guidance papers covering these themes have been developed by many of the world’s largest investment governing bodies.

No one is saying that the latter is not important; however, there appears to be confusion about what ESG actually is, where it fits with business as usual, or whether it should even be there in the first place.

Financial institutions and, more recently, private equity firms have been reliant upon these frameworks to make risk-based decisions on their investments in the complexities of mining projects. Over time, this has permeated down into operational and internal organisational behaviours, which, on one hand, reflects the importance of communicating with cornerstone investors and, on the other hand, provides an easy way of communicating a broad array of environmental, social, and governance matters.

Think of ESG as the scoreboard in a cricket match, which allows spectators to know how their team is performing against a particular set of rules. Without ESG, interested parties (be they regulators, investors, shareholders or the wider community) cannot determine

However, despite popular thinking, ESG, with all its rapidly changing terminology and catchphrases, is not the practice of managing your operational performance, being a good corporate citizen with your host communities or contributing to ecological gains in the long term.

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It is simply a process for communicating to a particular and very influential set of stakeholders. In fact, I would argue it’s a concept that has been overused and applied in inappropriate settings, resulting in an oversimplification of complex challenges, expenditure in potentially the wrong places and, in the worst cases, causing unintended consequences.

Our industry can negate these issues by returning our focus to the fundamentals.

And as an aside, this will assist with ensuring that our organisations don’t fall foul of criticism or disclosure related compliance matters because of the ESG dial being turned up too high.

There are three key fundamental areas that require focus from mining organisations and their supply chain: • Social and environmental performance within our operations and our host communities • Corporate governance - the process of identifying and managing risks and opportunities in a strategic and values-driven way • Sustainability reporting - the process of adopting appropriate reporting standards and transparently communicating relevant and material matters to the broad spectrum of stakeholders

Lessons from the energy transition

Organisations and the people within them only have so much time. Given that sustainability, social and environmental matters span across companies and their operational footprints it’s vital that these three activities are incorporated into business as usual and that time is spent efficiently with outcomes in mind.

HOW TO FOCUS ON THE

FUNDAMENTALS SUSTAINABILITY DISCLOSURES Formal reporting and engagement processes based upon all of the items below.

SUSTAINABILITY STANDARDS REPORTING Standard selection based upon corporate locations and industry standards. Determines “materiality” which is what needs to be reported upon from all of the below.

CORPORATE GOVERNANCE Strategic planning that considers the physical and financial influences upon the broader business. Connects the operational risks and opportunities with the grassroots operational management considerations.

SOCIAL & ENVIRONMENTAL MANAGEMENT Impact assessments and risk management frameworks paired with technical knowledge .

Operationally and host community focused.

10% 20% 30% 40%

You’ll notice that the fundamentals do not reference ESG in this diagram. That’s because we’re looking at the actual functions of sustainability, social performance and environmental management practices as they function within an organisation.

Ideally, the split of time and investment should be at the foundational level of operations. Understandably, when new reporting standards such as the Australian Sustainability Reporting Standards (ASRS) are introduced or updated there may be additional intensity of time spent on other elements, however, this should be project-based and should not distract from the grassroots functions of a mining organisation's business.

This ratio of time spent on each fundamental principle applies throughout the life cycle of a mining project. It’s reflective of the weighting that’s needed to bed down the foundations of our operational management, and social and environmental performance. And it should always apply from boots to board room.

I encourage those of you who aren’t getting your boots dirty to consider what you are missing from the fundamentals and what risks this is introducing to your organisation. Perhaps it's time to give the buzzwords a rest and get on with it.

Sustainability and readiness for the commencement of ASRS (which will affect all mining organisations and their supply chains in the coming years) mean that more than ever, we must pass the pub test. How do we do this? By understanding our footprint, being confident that we know the practicalities, and transparently communicating with our vast array of stakeholders - not just the finance sector - and reporting our progress each step of the way. 

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A fair go: mining communities negotiating a ‘just transition’ Kieren Moffat PhD, Co-founder and Chief Executive Officer Voconiq

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ustralia’s mining industry is at a crossroads. Long a cornerstone of the nation’s economic prosperity - contributing over $2.1 trillion in export revenue and supporting 21% of economic growth in the past decade - it now faces new challenges and opportunities as the world transitions toward a sustainable, low-carbon future.1 This dual role of maintaining economic significance while addressing climate imperatives has elevated the importance of community trust, environmental stewardship, and equitable practices. The people living and working in Central Queensland find themselves at the centre of this transition.

The CSIRO Australian Attitudes Towards Mining 2024 survey, conducted with Voconiq, provides some important new information to support reasoned and productive discussion about how this transition is being conducted.2 The 2024 survey of almost 6,500 Australians is the third in the program of research, with the first being conducted in 2014 and the second in 2017. The study tracks key measures of community sentiment over time and this year’s work included a focus on transition minerals and renewable energy.

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Lessons from the energy transition

For the people of Central Queensland, it must feel as though they are playing the ‘hero’ and the ‘villain’ in the same school play. A globally significant producer of high-quality coal, a production and processing hub for gas and one of the epicentres for the development of renewable energy generation projects and the infrastructure to move those electrons to the grid. The story of the renewable transition is of course more nuanced than a pantomime but what is absolutely without shade is the sheer volume of development occurring in that part of the country.

But let’s start with mining. The CSIRO report shows that the position of mining in Australia has not been stronger in the last ten years than it is right now. 71% of Australians recognise mining’s role in supporting the future prosperity of the country and 71% agree that it is integral to the Australian way of life.

In addition, 78% of Australians agree that mining provides employment and training opportunities for young people and 80% agree that it provides opportunities for regional employment and training. On all these measures, Australians are significantly more positive now than they were in 2017 or 2014.

Australians also trust the mining industry to act responsibly and accept the industry’s activities more in 2024 than they did six or 10 years ago – significantly more. These two measures are particularly important as they reflect the health of the industry’s social licence to operate in this country. The real question that follows is why? What has changed in the minds and experiences of citizens that has caused this shift? Using some fancy statistical modelling, we can determine exactly that.

The mining industry is seen to be more responsive to community concerns than it was in 2017. Australians are more confident that they and the country get a fair share of the benefits created by the mining industry, and that governments are doing a better job ensuring mining companies do the right thing. What hasn’t changed a whole lot are community ratings of environmental impacts caused by mining (high) or the importance they place on rehabilitating old mine sites (also high).

And while overall scores have improved on key drivers of trust and acceptance, these scores were even more positive among participants who knew at least one person who worked in the mining industry. This difference was much greater than the difference between, say, those that live in metropolitan areas and those that live in regional locations.

So, Australians consider mining to be important to our national prosperity, for creating opportunities in regional communities, and that the industry is acting in more responsive, responsible ways on the whole. If we turn now to the role that the mining industry is seen to play in the renewable transition, the story gets more interesting still.

The global push for renewable energy is creating unprecedented demand for critical minerals such as lithium, cobalt, and nickel— minerals that Australia is uniquely positioned to supply. Australia leads the world in lithium production (52% of global supply) and holds significant reserves of other critical minerals3, with over 80 major projects representing $42 billion in investments and 115,100 jobs predicted by 20404. Most of this projected new transition mineral mining will likely take place on Indigenous Peoples Lands.5 BBMC Yearbook 2024

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72% of Australians agreed that increased mining will be necessary to meet the transition needs and 66% believed regulation should be streamlined or simplified to make the transition to renewable energy faster. And while 64% of participants agreed that mining is necessary to achieve a net zero future, 61% of Australians expressed concerns about its associated environmental impacts. More than that, 32% of Australians indicated that Australia should reduce mining activity “even if it means taking longer to reach net zero emissions targets”.

While the majority of participants (46%) disagreed with this last statement, that sizeable minority sums up the tension that Australia needs to navigate; (in general) we see the importance of mining to the country now, we understand the opportunity the renewable transition presents for the future Australian mining industry, but we have deep reservations that this can be done in an environmentally responsible way. And it’s not just the environment that Australians are concerned about.

Australia should reduce mining activity, even if it means taking longer to reach net zero emission targets

13%

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13%

25%

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12%

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Government policies and regulations play a significant role in the length of time it takes to transition to renewable energies Regulations should be streamlined or simplified to make the transition to renewable energy faster I support increased mining activity in Australia if it means reaching net zero emissions targets sooner

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21%

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Mining is necessary to achieve a net zero emission future Critical minerals are necessary for the development of renewable energy technologies (e.g. batteries) It is important for Australia to urgently transition to renewable energy to combat climate change

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3% 17%

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PERCENTAGE AGREEMENT

Image: Turnbull Photography

Strongly disagree

Disagree

Slightly disagree

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Figure 1. Distribution of ratings regarding renewable energy transition.

And that brings us right back to Central Queensland. We asked Australians about the people and places for whom the transition represents the potential loss of opportunity, livelihoods and all the other benefits Australians believe the mining industry delivers for regional communities.

60% of Australians indicated they are concerned about the impact the transition will have on people who hold jobs in fossil fuel-related industries (only 16% indicated they were not concerned), and 64% of Australians agreed that “it is important to protect the jobs of workers in fossil fuel related industries (15% disagreed).

To reinforce the point further, an extraordinarily high proportion of participants (75%) agreed that in the transition away from fossil fuels, it is important to ensure affected industries and communities have enough time to adapt (e.g., through creating new job opportunities and providing education and training). But when we asked Australians whether they felt workers in these industries were receiving enough support to find alternative career pathways, just 40% agreed with this statement. A further 38% selected a neutral score on this measure, indicating they’re just not sure if this is the case or not.

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Agree

Strongly agree

And this is what is meant by a ‘just transition’ in those global meetings and speeches we see on the news; that the race to renewables (in part) doesn’t neglect the interests of those that have and do underpin our current energy security, deliver enormous wealth to our country and build communities that have raised generations of productive Australians. Our nation owes these regions, these people, more than that, and the rest of the country agrees.

The Australian Government also agrees, with the Net Zero Economy Agency and the Department of Employment and Workplace Relations leading efforts to support workers, families, employers and

communities to navigate these waters safely. State governments are likewise engaged in the challenge.

Something I think about a lot is the way that communities watch how others are treated by companies, organisations and institutions as a way of understanding more about who they are, their values and how they themselves may be treated in similar circumstances. In fact, in the latest CSIRO mining survey results, we see something similar. A new driver of trust in the mining industry emerged in this year’s analysis: local community agency to hold mining companies accountable.

The more that Australians are confident local mining communities can influence how mining companies operate and defend their interests together, the more they trust the mining industry overall. This is important because it shows how companies, in this case, treat individuals and communities locally affects the social licence of the industry at the national level. The data from the survey also shows that Australians are concerned about how well mining communities impacted by the transition

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are supported. These communities are not on their own, and it would seem that Australians are watching how all of the various stakeholders and actors involved in the energy transition are working to ensure ‘just’ reflects that great Australian value: a fair go.

Read more about the CSIRO mining attitudes research or explore the data yourself using a public-facing dashboard: search ‘CSIRO Mining Survey’.  1 Minerals Council of Australia. (2024). Annual Report 2023. Retrieved from [https://minerals.org. au/wp-content/uploads/2024/06/MCA-AnnualReport_2023.pdf](https://minerals.org.au/wp-content/ uploads/2024/06/MCA-Annual-Report_2023.pdf) 2 Moffat, K., McCrea, R., Pitcaithly, A., Unger, I., Bailey, C., Boughen, N., Parr., J. (2024). Australian attitudes toward mining: Citizen survey – 2024 Results. CSIRO, Australia. [EP2024-4783] 3 (Geoscience Australia. (2024, March 5). Critical minerals at Geoscience Australia. https://www.ga.gov.au/ scientific-topics/minerals/critical-minerals) 4 Commonwealth of Australia. (2023). Critical Minerals Strategy 2023-2030. Retrieved from https://www. industry.gov.au/sites/default/files/2023-06/criticalminerals-strategy-2023-2030.pdf 5 Owen, J.R., Kemp, D., Lechner, A.M. et al. Energy transition minerals and their intersection with landconnected peoples. Nat Sustain (2022). https://doi. org/10.1038/s41893-022-00994-6

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Lessons from the energy transition

The story may be nuanced but this data is clear. Australians support the need to transition to renewable energy sources and the opportunity this represents for the Australian mining industry. They also have reservations about the environmental cost this may have. And alongside a deep concern that communities impacted by the transition are supported appropriately, they are not convinced that this support is adequate or forthcoming.

How do Queensland’s mine closure regulations stack up on the social front?

Dr Sandy Worden, Principal Research Fellow, and Associate Professor Sarah Holcombe, Research Fellow Centre for Social Responsibility in Mining, The University of Queensland Professor Arn Keeling, Professor of Geography Memorial University of Newfoundland and Labrador, Canada

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esearchers Nick Bainton and Sarah Holcombe observed in 2018, “The socioeconomic and political impacts that arise during [mining] operations are nearly always present in a more acute form towards the end of the project lifecycle”. Since they published their critical review, much has happened in closure scholarship, governance and practice, including a growing acknowledgement of the need to address the social aspects of mine closure.

What we mean by the social aspects of closure are the socio-economic, political, cultural and institutional considerations that emerge when mining activities end.

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Those most affected by mine closure usually include local communities, employees and their dependents, rightsholders, local governments, regional authorities, regulators, suppliers, service providers, small businesses and other interested stakeholders. The focus is on long-term social sustainability and the capability of impacted communities to transition beyond the life of active operations.

The importance of early, ongoing, and long-term community engagement in closure planning is increasingly recognised as a means of maximising benefits and minimising adverse impacts of closure. Community-engaged closure planning creates opportunities to centre the needs and expertise of the people who will inherit the land that is left behind and opens up space for colearning between mining companies and host communities. Furthermore, actively including Indigenous interests, priorities, and expertise in closure planning offers an opportunity to remedy past exclusion and adverse impacts.

Despite this more nuanced understanding of the social aspects of mine closure, closure regulations in

many jurisdictions continue to overlook the need for socioeconomic planning and clear objectives for post-mining social outcomes. This deficiency inhibits mitigation of the often-devastating socioeconomic effects of closure and the integration of community objectives for mine site transitions into planning processes.

Comparative research – regulations in Australia and Canada To test these observations empirically, we analysed mine closure regulatory frameworks in three jurisdictions — Queensland and the Northern Territory in Australia and Nunavik (Northern Québec) in Canada. The jurisdictions have broadly similar mining histories, structures of mineral governance, and legacies of colonial relations with Indigenous peoples. We examined: • How state/provincial and regional authorities regulate and assess mine closure and reclamation.

• The extent to which these regulations and practices address the social aspects of closure and mine site transitions (economic impacts, cultural impacts and post-mining land uses (PMLUs)).

Lessons from the energy transition

• The barriers and opportunities for local and Indigenous community participation.

• The emerging practices of community engagement in mine closure and transition planning.

What we found was, despite the growing recognition of the need to integrate social criteria and objectives into closure planning, significant gaps in regulation and practice remain. There are important similarities between the Canadian and Australian contexts. Both jurisdictions give very limited regulatory attention to the social aspects of mine closure.

In Queensland, the mining reforms introduced in 2019 offer little in the social domain beyond a requirement for community consultation during the development of a progressive rehabilitation and closure plan (PRCP) and in the identification of PMLUs. Community consultation guidance for PRCPs acknowledges the cultural interest ‘Indigenous communities, Traditional Owners including native title holders’ may have, but it positions Indigenous peoples as stakeholders rather than rightsholders. The gap in addressing socioeconomic impacts is reflected in the mine closure plans produced by proponents.

In our review of more than 10 plans for Queensland operations that were produced prior to the requirement for a PRCP, none addressed the socioeconomic impacts of closure.

Furthermore, none referred back to the impacts identified in the social impact assessment required for project approval.

Image: Turnbull Photography

Negotiated agreements, likewise, take an ad hoc approach to addressing closure impacts, which limits opportunities for Indigenous rights and interest holders to manage closure risks and advance initiatives that support their values and aspirations. While negotiated agreements incorporate development opportunities for the operational stage of a mine’s life, in the Australian context this is largely missing for the closure stage. There are no public policy frameworks in Australia or Canada that guide agreements negotiation, terms of reference or implementation.

The focus on the front end of the mining lifecycle is clearly apparent not only in agreement-making but also in environmental and social impact assessment processes, which are rarely applied to mine closure. Although this is changing in Australia, impact assessments are largely scoped from a proponent’s perspective, rather than those of impacted Indigenous groups or local communities. Impact assessments tend to focus on mine development and operations. Closure is only considered in conceptual or general terms. Yet, both operational and closure stages have social and environmental risks and impacts that extend beyond life-ofmine and require advanced assessment, planning, and mitigation. While industry guidelines call for closure planning across all stages of the mining lifecycle, there is little evidence that this is being implemented with any consistency in these jurisdictions.

In the absence of adequate regulation and policy, the management of social aspects of closure tends to comprise ad hoc negotiations between companies, governments and mining-affected communities. There is a clear need for more effective and prescriptive closure planning regulations and guidelines at the subnational level, as well as processes for local and Indigenous community participation in closure governance.

Regulatory requirements should not supersede negotiated agreements; rather, they should help provide clarity and support planning for PMLUs and socioeconomic transition. In addition, regulations should further clarify the long-term environmental monitoring and protection required to ensure the resumption or continuation of Indigenous land use and ownership.  BBMC Yearbook 2024

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industry evolution and adaptation Industry Evolution and Adaptation

Image: Anglo American

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Industry Evolution and Adaptation

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Outpouring of solidarity: how Bowen Basin united for Grosvenor Mine Shane McDowall, General Manager, Grosvenor Project Anglo American

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t was just after 5:40am on Saturday, 29 June when I woke to a call about an incident at the Grosvenor Mine longwall face at the end of the nightshift.

After confirming everyone was safe, we got to work on understanding what had happened and initiated our incident response.

Hundreds of messages offering to lend support from colleagues and strangers alike poured in as news of the incident at the mine spread across the Bowen Basin.

The mining industry stood ready to lend a hand in whatever way the mine needed.

This remarkable sense of solidarity was profoundly humbling and without a doubt helped us ensure the quickest and safest possible outcome for Grosvenor.

First and foremost, though, the leadership shown on shift from deputies, under managers and the mines rescue teams to coordinate a safe and efficient withdrawal of the underground environment was exceptional: • All coal mine workers were on the surface in an hour. All critical controls were in place and the emergency management system was followed.

• We engaged external industry experts early in the emergency response to

help with data analysis and provide recommendations.

• Timely decisions on sealing the mine enabled faster inertisation and extinguishing of the fire.

• Innovative methods, such as using remotecontrolled equipment, played a crucial role in safely sealing the mine and stabilising the atmosphere underground.

• Queensland Mines Rescue Service (QMRS) provided and operated an inertisation GAG (Górniczy Agregat Gaśniczy) – a high-pressure jet engine that injected inert gas into the underground environment.

• The Simtars testing and research station, part of the mines inspectorate Resources Safety and Health Queensland (RSHQ), deployed specialist gas monitoring equipment on site to aid in this process.

We worked closely with regulators and industry safety and health representatives, who promptly approved conducting damage assessment work within four weeks of the event.

Managing this evolving situation presented us with dynamic challenges. But the industry offered possible solutions before we had even tasked our teams with problem-solving, making it easy to establish relationships through a few quick phone calls.

It was a humbling display of industry generosity – all this help was either gifted or donated – equipment and labour alike.

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It was clear everyone within 500 km of Grosvenor Mine had our best interests at front of mind.

Remote-control dozers from BHP Mitsubishi Alliance’s Saraji mine near Dysart and Anglo American’s own Dawson Mine at Moura played a crucial role in the response efforts. They helped adjust infrastructure to hasten sealing the main ventilation shafts with dirt and Rocsil foam.

A newly commissioned tele-remote dozer at Anglo American’s Capcoal Complex at Middlemount was also transported under emergency police escort, together with its remote operations centre, to play an equally pivotal role. We had a fourth dozer on standby at Peabody’s Coppabella Mine.

Perhaps the most ingenious piece of equipment we repurposed in our response was a Kanga loader, typically used for cleaning under highway drains. Arriving from Yeppoon, although it had never been used in an underground mining context, the mini loader proved essential in closing the knife gates on Grosvenor’s ventilation shafts. Without the remote-controlled Kanga, we could have added days to our response time, and considerably more damage could have been caused to that infrastructure through other closing options.

Image: Anglo American

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We received Tomlinson boilers from BMA’s Broadmeadow Mine, Glencore’s Oaky Creek Mine and our own Aquila Mine at Middlemount.

As well as sharing invaluable wisdom and experience based on how underground gas incidents had been previously managed, Peabody also donated the use of gas and air quality measurement equipment.

All this equipment helped us reach our sealing milestones while keeping our people at a safe distance from the mine shafts and portals. In the spirit of the emergency response, everyone worked collaboratively to get tasks done safely. But our efforts in managing this incident – or its impact - did not start or stop at the mine gate.

Our safe response to the incident at Grosvenor showcases the strong relationships and mutual trust with key stakeholders established across our steelmaking coal business.

These relationships, fostered over many years, helped us swiftly transition from emergency response to asset recovery.

Without the collaboration of industry and community, our prompt response to the Grosvenor incident would not have been possible – and I sincerely appreciate the ongoing support from our Moranbah community.

Our prompt and transparent communications across various channels were vital in dispelling misinformation and we used a range of traditional and non-traditional channels to engage with our stakeholders during the incident response. These daily updates to our people and local communities ensured a trusted and consistent flow of information.

We also established an industry-first collaborative jobs hub – a central portal for advertising resource sector employment opportunities across Queensland for Grosvenor’s wider displaced workforce. The Minerals Council of Australia and Queensland Resources Council were instrumental in enabling this response.

We established additional independent real-time environmental and air-quality monitoring to assess and understand any potential impacts on our workers responding to the incident and for wider public health to keep the community informed.

Industry Evolution and Adaptation

Internally, we prioritised the wellbeing of our people through a range of support initiatives, including pay extensions and offering redeployment opportunities for our Grosvenor workforce.

An employment working group was created with our four key unions, meeting three times a week during the initial emergency response phase.

Image: Anglo American

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Our safe response to the incident at Grosvenor showcases the strong relationships and mutual trust with key stakeholders established across our steelmaking coal business.

The Power of Community: How our industry lent a helping hand BMA Saraji: Remote-controlled dozer BMA Broadmeadow: Tomlinson boiler Glencore Oaky Creek: Tomlinson boiler Peabody Centurion Mine: Gas and air quality measurement equipment Queensland Mines Rescue Service: GAG Mining Support Services: Moxy trucks to help fill ventilation shafts T&C Excavations Qld: Equipment relocations onsite and earthworks support Hatch Engineering: Engineering support Wilson Mining/Mastermyne: Emergency sealing support Australian Conveyor and Culvert Cleaning: Kanga mini loader Xtreme Engineering: Engineering support at short notice

Image: Anglo American

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Queensland Department of Environment, Science and Innovation (DESI) monitoring equipment provided real-time hourly air quality data for particulate matter in the Moranbah area, and QMRS equipment further supplemented our monitoring.

We also had 24/7 atmospheric data collection at five locations in the Moranbah township. All independent monitoring reported readings within acceptable limits, indicating no impact to community health from smoke or airborne contaminants.

Our strong foundations in innovation, safety, sustainability, and stakeholder relationships enabled us to withdraw our workforce quickly and safely, limit damage, and ensure our people and communities felt informed and included in our response.

Looking ahead, imagery from purpose-built cameras lowered into strategic points is encouraging. It shows limited damage underground, and the newly installed longwall shows no fire or heat impact.

We are working towards reentry in early 2025 to access critical infrastructure points and validate what the cameras have shown. Our desktop analyses are also progressing to determine mine restart options.

My commitment to Grosvenor – and to every person who steps foot on site – is as strong as ever.

Safety is our foundation, and it’s our collective duty to keep learning, improving and looking after one another.

The support we have received through this journey is a testament to the resilience and unity within the mining industry and the Bowen Basin community.

Together, we will face whatever challenges come our way and be always stronger for it. 

Supporting Bowen Basin’s communities Anglo American has been a proudly Central Queensland business for more than two decades. Our product is the backbone of modern life, and our people are at the heart of local communities across the Bowen Basin.

We’re proud we give back to organisations and charities that support our communities, including Heart of Australia, Queensland Minerals and Energy Academy, and local Men’s Sheds.

Learn more by visiting australia.angloamerican.com Find us on:

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Mining in the digital age: using social media to influence the future Melanie Laas, Marketing and Communications Officer, Resource Industry Network

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n the digital age, companies aren't just digging for minerals; they're mining for likes and shares on social media platforms.

These platforms have evolved into powerful social tools, transforming frontline workers into famous social media stars and mining companies into popular household brands.

Social media content has the potential to personify brand image, enabling human-like engagement with stakeholders. Strategic use of social media platforms attracts new employees.

Nowadays, staff members, as well as prospective staff, follow a company's social media story and form

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judgments about its content in just three seconds before deciding whether to engage or scroll past. Consider how often your staff has used social media this week— browsing the Facebook feed is a daily pastime for nearly all Australians. Consider if your business is mastering ‘social mining’ and making the most of the social media tools for best results.

• Build digital literacy Social media runs on machine learning algorithms. Companies should prioritise digital literacy skills such as content creation, data analysis, understanding post structure, and platformspecific management to navigate social media technologies. Content creation tools like Canva make it easier than ever to produce professional digital media, while artificial intelligence software such as ChatGPT and Grammarly are helpful tools for social media managers and content creators to generate ideas and write professional captions.

• Measure social media impact Established social media objectives – increased visibility, higher engagement, or improved sentiment – define your organisation's key performance indicators (KPIs). At least monthly, conduct data analysis of your active platforms to identify industry trends, viral posts, poorperforming posts, and areas for improvement. By using social listening tools and keyword planners, companies can adjust and create new content that meets the needs and desires of the target audience.

• Transform perceptions High-quality photo and video content reflecting real-life scenarios is crucial in shaping narratives.

Employees doing day-today operations narrate a company's genuine brand story. Behindthe-scenes footage of employees safely operating equipment humanises the company and fosters

Image: Turnbull Photography

real-time operations, and safety practices keeps the community informed and helps counter misinformation.

Uploading talking-head videos or event highlight reels on platforms like Instagram enables community members to connect with real humans and socialise with your organisation. Showcasing partnerships with regional business leaders further reinforces the company's commitment to community involvement. Inviting community members to contribute to social media content fosters a sense of ownership and representation. Members of parliament and government officials often do this well.

For example, a coal mining company in the Bowen Basin launched a long-term "Shift Heroes" campaign on Facebook and Instagram. The campaign was 'organic' (i.e., not paid advertising) and purposed for visibility. Organic posts featured photographic content and written stories about personnel who made a positive impact during a shift. From providing healthy snacks and coffee to speaking up at toolbox talks, the Shift Heroes initiative is now a regular occurrence for this company. This user-generated content (UGC) initiative boosted employee engagement and enhanced the company's public perception in the local area, as 75% of the workforce are nearby residents, and 40% of the Facebook followers live across Central Queensland.

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trust with viewers. With a focus on safety practices, environmental stewardship, and community engagement, social media content can demystify the mining sector and highlight its positive contributions.

Further, attentiongrabbing visuals, like drone footage or trendy video transitions, demonstrate innovation.

For example, the HR department at a mining company in Queensland launched a TikTok campaign featuring short video clips highlighting plant operators' morning routines. The video footage was captured using the company's iPhone 16 Pro and DJI Osmo Mobile 6 Gimbal, then edited with the free CapCut mobile app. The entire process of creating and posting the 15-second video took approximately 60 minutes.

This approach not only humanised the mining company but also shifted the narrative from one of extraction to one of caring for people. Further, the video became so popular that it went viral on TikTok. Ultimately, HR was able to leverage the company's social media content marketing funnel to attract a significant number of recruits.

• Connect with the local community Social media provides an accessible channel for authentic dialogue that eases tensions and builds trust. Using simple language makes social media content engaging for a broader audience. Consistently posting updates about the company's values, job opportunities,

• Promote inclusivity Social media is a powerful platform for amplifying diverse voices. By sharing stories from minorities and underrepresented groups, organisations promote inclusivity and strengthen the diverse voices of their workforce. A more inclusive approach enhances company culture and drives innovation, as diverse teams are known to generate more creative solutions—essential in the evolving mining sector. Highlighting the achievements of minority groups inspires others and showcases the company's diversity.

For example, a locally-owned service provider used Instagram to share high-definition photographs of their leadership team shaking hands with a not-for-profit (NFP) organisation.

The caption accompanying the photo detailed the amount of money raised at a luncheon for the NFP supporting immigrant families. By maximising the post configuration and 'inviting' the NFP to 'collaborate' on the post, the content appeared in more tabs on Instagram, gaining more visibility and resulting in high views and new followers. Viewers learned about the service provider's charitable values, which helped promote inclusivity.

This initiative generated cultural pride amongst immigrant workers and strengthened talent attraction.

Image: Turnbull Photography

Consider if your business is mastering ‘social mining’ and making the most of the social media tools for best results.

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• Build influence Thanks to social media, all industries are experiencing a digital transformation in how and what is communicated online. By harnessing the power of social media networking, businesses can establish themselves as' thought leaders' or 'influencers.' Industry leaders must leverage this power to create a social media following or risk becoming irrelevant. For example, a company that consistently uses LinkedIn to share success stories, spotlight team members, highlight community partnerships and showcase innovation or safety practices will stay at the top of mind among LinkedIn's one billion users.

Next steps 1. Research which platforms your target audience uses (or consult a social media strategist).

2. Expand your digital literacy and skills through social media training tailored to each platform.

3. Create a strategic content plan for each platform.

4. Be active on chosen social media channels multiple times per week.

5. Produce high-quality content and retain raw digital media for tailored edits on each platform.

6. Focus on gaining attention and retaining followers.

7. Consider investing in paid advertising on those platforms once your organic posts achieve high views or engagement (depending on your KPIs).

Imagine a future where onsite Wi-Fi is the norm, enabling instantaneous social media updates from your organisation's dedicated content creator in the mining pits. Mining management will plan their next big dig while strategising their next video post. 

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Leading a multigenerational workforce in the mining industry Anton Guinea, Founder The Guinea Group

T Understanding generational differences is important because some mines have up to four generations of workers – sometimes in the one team.

he Australian mining industry employs over 300,000 people, which equates to 2.1% of the population. Parttime staff make up 5% of the mining industry, and 21% are female, according to the latest Federal statistics.

The average age of all mining employees in Australia is 41.

That puts the average year of birth at 1982 or 1983 for Australian miners – meaning that the average generation of workers in Australian mines is Millennial.

So, why is that important?

Because Millennials (and no, they are generally not called Gen Y, but they do

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fit in between Gen X and Gen Z) have very different requirements from their leaders than do Generation Z employees, as do Generation X team members.

For those of you wondering what the generational intervals are, start at 1964. If you were born prior to that, you are a Baby Boomer. If you were born between 1964 and 1980, you are Generation X. If you were born between 1980 and 1996, you are a Millennial, and if you were born since 1996, you are Generation Z. Understanding generational differences is also important because some mines, and even some teams, have up to four generations of workers – in the one team.

Let’s take our analysis one step further and look at the average age of a supervisor in the mining industry. That average age is 45. There is not much difference between the average age of the team, and the average age of the

supervisor, you might think.

Or is there?

At the age of 45, the average generation of mining industry leaders is Generation X. A very, very different generation and leadership style compared to the more recent generations.

Generation X miners were raised (and led early in their careers) by Baby Boomers, who were born into toughness, and who were strict at home and strict at work.

Generation X mining leaders are struggling to adapt. How do I know? As a leadership coach I speak to them most days. Not only are challenges like Psychological Safety scaring them, not only are mental health claims on the rise in mining (and other industries), but each generation of worker also requires a completely different leadership style. All on the same day. In the same team. Stay strong leaders.

We’ve got you covered.

Industry Evolution and Adaptation

Image: Turnbull Photography

Some mining leaders are leaning into generational worker leadership (and good on them for reaching out). At our training programs we share reports, statistics, and data, but we also share good leadership, engagement and empathy strategies that will make mining leaders more effective.

mining workplaces and other industries because they have a voice. And they are purpose-driven - they leave roles, jobs, or industries if they are not realising their potential. In short, we advise you to listen intently and be willing to be flexible.

Here is an overview of how to lead the different generations of workers. We’ll work backwards, as the Generation Z workers are apparently the ‘hardest’ to lead (with apologies to Gen Z readers).

Leading Generation Z requires patience, listening, empathy, regular recognition, flexibility, and opportunities for growth.

As does leading Millennials, who often get lumped in with Gen Zs (especially in the research).

Gen Z – listen intently and be willing to be flexible

Millenials – help them find their purpose

According to Fast Company research, “many senior leaders feel Gen Zs come across as more frustrating than additive: demanding, questioning, and challenging their managers with nontraditional views of work.” Generation Z is the first generation to be born into a world with the internet (so they are digital prodigies). They have higher expectations of their employers, and they are advocating for work-life balance, high pay rates, and social change, all at once. At the same time, they have huge potential, they are keen to learn, and keen to grow.

Millennials are a ‘softer’ version of Generation Z, with many similarities.

Deloitte Global recently reported that purpose is also “key to workplace satisfaction and well-being, according to nearly nine in 10 Gen Zs (86%) and millennials (89%).” In short, help them find their purpose.

They need to be nurtured, and they require a huge amount of recognition and time with their leader. They are the most influential generation in

Gen X – let them do their thing Leading Generation X mining workers is somewhat easier (if you are an autonomous leader). Generation X leaders ‘get’ Gen X workers.

Gen Xs value autonomy, according to research by marshmma.com. “Allowing Gen X more control over their roles and enabling them to be creative problem solvers can motivate them to

stay engaged.” They need very little recognition, are self-starters, and very entrepreneurial. Confident and trusting leaders value Gen X workers. In short, we advise to ‘let them do their thing’.

Baby Boomers – respect their contribution and knowledge Then, there are the Baby Boomers who are either looking to retire but don’t have quite enough super yet or are not looking to retire because their work is their identity, although they could retire.

Boomers are competitive. They feel like they are experienced and should be valued for it. Boomers need the most support in your team, not to be engaged but to be encouraged to get to know and understand the other generations.

Boomers have a strong work ethic and cannot understand why some want to finish early. In short, respect their contribution and their knowledge.

In summary, the mining industry in Australia has a diverse age demographic.

It contains four generations of workers, all of whom require different leadership styles. The pro tip is that the leaders who really take time to internalise the information in this article and the research will create the most psychologically safe and high-performing teams because all the generations will be able to work together and relate to each other. 

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Shutdown, breakdown or increased demand?

Just Coates it.

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Tooling & equipment hire (long & short-term) Specialised Power & HVAC equipment Staffed tool stores Tailored asset management via SiteIQ

Jeff Sterling, Founder and Managing Director Universal Field Robots

Industry Evolution and Adaptation

Interoperability: the new oil for mining

I

nteroperability could be the key to delivering a 10 – 20% performance improvement in mining. Sound interesting?

Friction in a mechanism is the force that resists movement. In organisations, there is friction that resists progress, and interoperability is the oil to remove it.

We take for granted interoperability in our daily lives.

We talk to our phones and link with another person, text or share images, our location and more. Our phones connect to multiple GPS satellites, provide maps, directions for travel and locations of people we know. On command, they can locate the nearest service station and then communicate with a bank server to pay for fuel. We barely need to intervene.

One of the forces behind this is the ongoing advance of technology which is driving down costs over time.

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For example, in the past, only the rich could afford candles for lighting at night, but now technology allows us to switch on lights without much regard to cost. The cost of lighting has trended down to be effectively zero. Similarly, technology is driving down the cost of interoperability and it is trending to zero. This is a key factor in the success of mining automation, digitisation, and data analytics.

With a near zero cost, why wouldn’t everyone embrace interoperability? For one, the value is not obvious. Secondly, there is an upfront investment to release the return. Some of the value is hidden in plain sight, as ‘this is the way we have always done it.’

Where can it be hidden?

We spend hundreds of millions of capital and operating costs on a mine and mining equipment and then we operate it for 90% of each day.

Hot shift changes have been tried where additional people are employed so that a truck pulls up and a driver steps out and a replacement gets in. Downtime is almost eliminated.

However, trucks can now be driven by both people and an AI driver. When people leave at shift change, the AI driver can do a hot shift change, keeping the trucks moving. The mine is operating closer to 100% of the time, and the business gets the extra tonnes for budget. So, what have we done to achieve this? We have recognised the trapped value in integrated systems, and then released the trapped value through interoperability.

In addition, what if we could accurately know the weight and volume carried in a truck and record any carry back? Would underloading and overloading be reduced? How accurately can a loader operator load a truck without any feedback? Unfortunately, the response is often that no one knows the answer.

Loaders, trucks and fixed sensors can be used to measure the weight and interoperability by collecting the data, and reporting can change the outcomes. Could there be a 10% gain in haulage tonnes if we got this right? Could damage and maintenance be reduced?

Transcale CEO, Ross Grayson has said: “Regular validation of today’s on-board truck and shovel weight measurement systems is the basis of understanding and capitalising on payload improvement opportunities."

Their experience working in this area highlights the significant improvements in performance that are possible, where savings and sustainability can be delivered.

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Using interoperability to reduce friction points So now, the treasure hunt begins. Like a video game where the challenge is to find the buried coins, interoperability is about finding the friction points that are binding up operations.

What is the theme we are following here?

That the most valuable resource central to the mining enterprise is being tracked and reported on more closely. Could we do more of this in our mining world and if so, what would it look like?

Technology is driving down • Could a rock-searching robot define some valuable ore and communicate it to the cost of our rock knowledge repository? Could a brother machine look up our ore model, get interoperability on, accurately extract it, and send it off for processing while also informing processing and it is trending of the attributes? to zero.

• Information on ore definition has no value until it is visible to geologists and mining engineers - before they make missioncritical decisions. Equipment lost time happens until we can track it, categorise it and present it in a way that justifies and allows the team to make a change, such as hauling over shift change, for example.

• Developing problems in a truck's electrical system can either be unknown and stop operations or be flagged to the maintenance team if caught early enough to make a change.

Industry Evolution and Adaptation

We need to begin at the beginning and use systems and integration to better understand the resources we are working with. Paper systems to convey information and relying on people to store information are not working in the FIFO world of 7 on, 7 off.

Interoperability in mining refers to the systems, components, or processes that exchange information and work together to achieve business goals. Ideally, different mining equipment, systems, and software are integrated to work together seamlessly, regardless of the vendor.

The mining industry supports resilient manufacturers of solid mining machines.

These OEMs produce a specialised product for a specific task; however many don’t see the bigger picture opportunities or share the same goals as the mining company.

Enter technology, which is leaking into the cracks between machines and processes to help achieve greater business outcomes. Modern mining equipment is digitised and can report back to base on its performance. Data often flows to data lakes that are not connected. The challenge is not just to collect data, but to also enable easy access to the data, summarised into useful insights.

The internet comes to our rescue here.

The web, websites and software are the ultimate in interoperable systems. The internet is likely the largest interoperable system we have. The web is highly integrated, very capable and secure, and collecting data and displaying insights via web apps is highly suitable for interoperability.

Therefore, information can be displayed using web processes and readily accessed and configured to get it in a form and to the people who need it. Bringing web processes to mining is a proven way to solve interoperability and integration.

We need to think of mining information along with ore and get it to the people who can make better decisions.

Where to start?

If you still have humans collecting information, writing it down and handdelivering it, then this should be a red flag. Apart from wasting time, the data is likely less accurate, not timely, and harder to digest. If ore can’t be readily and accurately reconciled through the mining processes, then this indicates inaccuracy.

If we can perfect interoperability, wasted time and resources will be a thing of the past and we would enjoy less disturbance and increased sustainability.

Interoperability is part vision, part commitment, and part execution. Let’s explore. The winners are us and our collective performance. 

Like a video game where the challenge is to find the buried coins, interoperability is about finding the friction points that are binding up operations.

Equipment movement should be tracked and information distilled down and served to both our production and maintenance teams. The teams should know where time is lost and where the most valuable opportunities lie.

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Mining’s digital evolution: Delivering technology for safety and sustainability Matthew Wakeford, Automation Superintendent Anglo American

M

ining has transformed remarkably from the era of picks and hammers to a future that uses cutting-edge technology to enhance safety and operational efficiency.

As a long-time leader in safety innovation, the modern mining sector has led the charge to significantly advance autonomous operations.

The rapid pace of technological innovation – especially in areas like data analytics, automation and digitalisation – unlocks incredible opportunities for the mining sector to become safer, more productive and more sustainable.

At Anglo American, we have re-imagined mines where our people can remotely manage operations from a safe distance, using realtime data to make informed decisions.

This paradigm shift has not only enhanced safety for our people but also delivered significant improvements in operational stability and production predictability for our customers.

Image: Anglo American

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Before Anglo American’s steelmaking coal operations in Australia began their focus on autonomous mining in the 2010s, only one known mine globally had achieved sustainable remote operations - San Juan Mine in the United States.

In 2024, our 10-year vision for a ‘mine of the future’ became reality when all three underground coal mines in Australia began operating simultaneously from our Remote Operation Centres (ROCs).

By September of the same year, our underground operations reached another significant milestone, notching up 10,000 longwall mining shears from our ROCs. Since transitioning to remote operations, we have reduced exposure risk to hazardous areas by 22,500 hours across our five Bowen Basin mine sites.

This shift to ROCs marks the culmination of a challenging decade-long journey – one that, at times, seemed impossible. Each advancement towards our vision introduced new obstacles, requiring the development of further technology capable of meeting the unique demands.

But a group of dedicated visionaries – determined to overcome the challenges each new innovation presented – led the charge.

Innovation alone, though, was not enough.

Our core values of safety and collaboration were also key to success.

Our people Those at the forefront of this transformation took everyone on the journey – from our workers at the coalface to upper management.

Sustainability became the key to long-term success. New capabilities hold no value if they cannot be maintained over time.

By empowering our people to evolve alongside the industry, we have ensured the

We have also standardised our equipment, technology, systems and software selection, enabling our teams to apply insights gained from one mine to another.

Longwall automation These strategic moves have eliminated the need for human presence in potentially hazardous underground environments, marking a significant step toward minimising coalface exposure hours.

Aquila Mine, near Middlemount, was the first to achieve a full year of shears completed 100% from the ROC, cementing a remarkable shift toward remote control not seen before in the Australian coal mining industry. The mine was able to reach more than 42% ROC operation during its first longwall panel and has since achieved more than 98% ROC shears on subsequent longwall panels.

Key success factors include: • Reducing exposure to potential occupational hazards: By operating the longwall from an office environment rather than underground at the coalface, operational coal mine workers are removed from hazardous underground environments.

• Improved ergonomics: Operators can work in a comfortable and ergonomic environment, reducing the likelihood of musculoskeletal injuries that can occur in traditional mining settings.

• Emergency response: The ROC has advanced monitoring and communication systems that allow operators to respond to any potential safety issue.

• Real time monitoring: The ROC has advanced technology and monitoring capabilities, including for gas levels. It adjusts shearer speeds to allow ventilation to move and dilute any increase of gas.

Industry Evolution and Adaptation

legacy of expertise remains an indispensable cornerstone of success. Through extensive trial and error, we have refined our processes within a mining environment. Our teams have integrated systems and automation to support sustainable ROC functions while preserving decades of expertise from our skilled people on the ground.

• Reduced exposure to harmful substances: The longwall ROCs have reduced operator exposure to respirable dust hazards, thus minimising the risk of respiratory issues and other health problems.

• Data-driven decision-making: The longwall ROC gathers extensive data on mining operations, which can be analysed to identify patterns and trends related to safety. This data-driven approach enables personnel to make informed decisions to enhance safety practices and prevent incidents.

• Continuous improvement: The remote operating environment allows for continuous improvement of safety practices. Lessons learned from incidents or near misses can be quickly incorporated into operating procedures and shared across multiple locations.

With a vision that emphasises the seamless transition of skills, we are not only embracing automation but nurturing the expertise of our workforce for the future.

Achieving autonomous mining presents unique challenges, particularly in managing exceptional situations that occur outside of normal operating conditions. Issues such as maintenance, blockages, geological anomalies and strata challenges create an opportunity to further develop systems capable of seamlessly navigating through all operating conditions.

Our dedication to this endeavour stems from the understanding that the more resilience we build into our automation systems, the less human intervention will be required.

This approach not only reduces operational exposure but also significantly strengthens the stability of the longwall system.

Global industry-first initiatives to enable remote operation include: • Autonomous Shearer • Shearer Auto Duck: Prevents need for manual shearer operation during cavity events and after maintenance.

• Auto Gate Road Entry: Removes need to manually operate shearer when entering a gate end roadway.

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• •

• •

• Seam Steering: Ability to steer and control the horizon of the shearer from a remote position.

Integrated Face and Camera Control System Cavity Management System: Enables Powered Roof Support (PRS) automation during cavity events.

Personnel Proximity Detection: PRS and Roadway ROC Management System

In total, more than 1,000 Original Equipment Manufacturer (OEM) system initiatives have enabled remote operation success.

However, the knowledge and experience of traditional shearer operators continue to play a pivotal role in the operation of our mines.

They are the irreplaceable subject matter experts with an unparalleled understanding of health and safety within the mining environment. They play an integral role in shaping the industry's future trajectory, 114

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helping to train and update our automation models and validate edge-case scenarios.

The coal miners of today will continue to be the coal miners of tomorrow.

Personal Proximity Detection systems Effective automation also requires effective process solutions facilitating integration between people and machine. Our Personal Proximity Detection (PPD) systems enhance safety for our people when they are operating near or with machines in our complex longwall and development panel environments underground. Through extensive collaboration with our workforce and industry partners, all three Anglo American underground mines now use PPD to protect our people on the longwall face, manage coalface times and integrate dust control measures.

Longwall PPD has become a key enabler of successful remote surface operation, which have achieved

sustainability at our Aquila, Grosvenor and Moranbah North mines this year reducing exposure to PRS and roadway push hazards.

During operation, our people wear PPD tags integrated into existing cap lamp technology, allowing for precise identification of their positions within the mine as an additional protection.

The system alerts workers if they are detected in the vicinity of a transitioning PRS or a moving shuttle car, enabling surface operators to halt movement until all people are at a safe distance. The use of PPD, combined with real-time dust monitoring, has provided a better understanding of dust exposure locations, and positional data allows leaders to implement operational and behavioural controls if required.

Anglo American’s PPD program is succeeding through effective change management, comprehensive training and support for our people, strong partnerships, a collaborative

approach to design, procurement, delivery and continuous improvement, as well as leadership that places safety at the heart of everything we do.

Tele-remote dozers Anglo American has also made significant strides in safety through automation innovation that eliminates the need for operators to be physically present in stockpile dozers.

Hidden voids in coal stockpiles at Coal Handling and Preparation Plants can create hazardous unstable ground conditions but this new technology significantly reduces the risks associated with rollover incidents.

Resources Safety and Health Queensland issued safety alerts in 2022 and 2023 after multiple dozer incidents in a short period across the industry, further underscoring the severity of stockpile void hazards.

Addressing these safety concerns has become crucial for protecting operators and preventing potential accidents or fatalities in the future.

Industry Evolution and Adaptation

Our innovative pilot program involved retrofitting a Komatsu 475-A dozer with a universal tele-remote system, allowing operators to control the machine from a safe, remote location. The project aims to achieve a notable reduction in accidents and injuries, improve operator well-being and productivity, and enhance operational flexibility across a diverse fleet of dozers.

Our Capcoal Complex, near Middlemount, has been trialling a remote-controlled stockpile dozer as part of plans to retro-fit the entire fleet. Once the technology is fully deployed across all sites, we will reduce in-cab dozer exposure time by 45,000 to 75,000 hours a year.

Key innovations – such as advanced joystick control, sound and vision aids, a tilting footrest and the establishment of safe, dust-free ROCs – have played a pivotal role in fostering a culture of safety and operational excellence.

One of the standout features of the tele-remote dozer solution is its agnostic nature, which allows it to

Image: Anglo American

be compatible with various equipment types in the Australian fleet.

Global firsts Mining is entering a promising new era, embracing automation and innovation like never before.

The measurable success of Anglo American's remote longwall operations highlights a groundbreaking shift that dramatically reduces on-site personnel exposure to hazards while maintaining, and even enhancing, operational efficiency. If we are to unlock the full potential of these advancements, we must consistently integrate the seasoned expertise of our workforce — those who have deeply understood and mastered the complexities of coal mining through decades of experience.

By developing state-ofthe-art technologies and prioritising the well-being of our workforce through a collaborative approach, our steelmaking coal mines in Australia have emerged as leaders in the industry, reshaping the future of underground coal mining on a global scale.

Our people are irreplaceable, and we are equipping them to grow with the industry, preserving a legacy of knowledge that will always be essential to our success.  BBMC Yearbook 2024

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Mining's $13.7 billion question: exposing Queensland's surety accessibility issues Image: Pure Gold Films

A comprehensive review and restructuring of the Financial Provisioning Scheme, considering the genuine needs of all stakeholders, could pave the way for a more robust and equitable financial framework.

Adam Battista, Executive Director CRE Insurance Broking

T

he Mineral and Energy Resources (Financial Provisioning) Act 2018 (the Act) plays a vital role in Queensland's strategy to manage environmental risks linked to mining activities.

This framework is a response to the Queensland government's legacy liability for roughly 120 abandoned mines, which disturb 10,300 hectares of land—an area comparable to 20,000 football fields.

The Financial Provisioning Scheme (FPS) aims not only to mitigate this growing liability, but also fund the rehabilitation of legacy mines through various grants. Under the Act, mining companies must provide adequate financial assurance to cover potential rehabilitation costs for their operations, yet it appears that unchallenged risks continue to loom, reflecting a government approach that is both cautious and incomplete.

According to the 2023-24 FPS Annual Report released in September 2024, the total Estimated Rehabilitation Cost (ERC) in Queensland alone is assessed at $13.73 billion.

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Notably, Bank Guarantees account for the largest share at $5.8 billion, overshadowing the $1.7 billion accounted for by Insurance Bonds and just $277 million by cash.

The impact of surety accessibility The FPS assessed its own risks in a posttransition review conducted in April 2022 (Review) and identified six key risks that needed addressing to maintain and improve its effectiveness. One risk is the accessibility and cost of third-party surety.

The industry raised surety accessibility as an emerging issue, given that the FPS’s viability is based on readily available third-party surety instruments. The government noted the requirement to continue to explore other options.

Industry Evolution and Adaptation

Out of this, around $5.6 billion is at direct risk to the FPS, while around $7.5 billion is secured through third-party instruments like Bank Guarantees, Insurance Bonds, and cash—collectively referred to as 'surety.'

The Review indicated they were “currently in discussion with a number of alternate surety providers and will update stakeholders in due course.” Since then, surety accessibility questions have continued to stand out as the critical risk for the FPS's effectiveness and sustainability.

The Acting Scheme Manager suggested that there was confusion about whether the problems with third-party guarantees were due to financial markets being hesitant to provide them or if the costs were just too high for EA holders. But it’s clear the primary issue is about availability for those outside the FPS qualification framework, rather than cost.

By November 2024, only one instrument was accepted by Treasury outside of the recognised banks and insurers. This bottleneck limits the options available to Environmental Authority (EA) holders and raises urgent questions about the system's overall reliability.

FPS annual statistics confirm surety has been readily available to those with a ‘Very Low’ or ‘Low’ Risk Category Allocation (RCA), but not for those in the ‘Moderate’ or ’High’ categories.

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RCA by Commodity 5,000

ERC$B

4,000 3,000 2,000 1,000 -

Fund

Surety

Fund

Very Low

Surety Low

Fund

Surety

Moderate

High

RCA by provisioning Coal

Minerals

Petroleum and Gas

Figure 1, FPS Annual Report 2023-24 No significant action is being taken to address these challenges. The 158 EA holders relegated to the ‘High’ RCA are exclusively funded through third-party surety, while ‘Moderates’ are exclusively funded through the FPS. The continuation of limited access to third-party surety for those who need it most jeopardises the effectiveness of the FPS itself.

Image: Pure Gold Films

Legislative changes and implications The recently passed Mineral and Energy Resources and Other Legislation Amendment Act 2024 (MEROLA) introduces critical changes to the FPS framework.

One significant shift is that all EA holders that have an Estimated Rehabilitation Cost (ERC) below $10 million will no longer require a risk allocation assessment. While this aims to reduce compliance burdens, it also shifts the requirement for surety entirely outside of the FPS, placing a substantial strain on smaller operators.

The minimum requirement for EA holders with a BBB+ credit rating or better will be raised from $450 million to $600 million. This benefits just 4 large companies and does little for the balance.

As a result, FPS contributions will rise by less than $400,000, but the risk increases by $600 million while concentrating liabilities among a few big players. This raises concerns about the stability of the FPS if any of these companies have their mining leases disclaimed.

Another key change is the new ‘Moderate-High’ Risk Category Allocation, which brings both opportunities and challenges. While it aims to attract more participants, some may be moved from their current 'Moderate' status to 'Moderate-High' or even out of the FPS entirely, creating extra burdens for those who can least handle it.

The future of mining and environmental policy The question of coal royalties substantially complicates the landscape and raises concerns about the sustainability and long-term viability of coal as a resource in Queensland.

Bipartisan support of the Progressive Coal Royalties Protection (Keep Them in the Bank) Act 2024 showed industry that there was little governmental support on the horizon.

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Coal is the major contributor to the FPS, and a push for rapid decarbonisation could threaten the whole system. The Queensland government's strict regulations and increased liabilities are creating challenges that risk undermining the sector and the effectiveness of the FPS and surety arrangements. You could say it may kill Queensland’s golden goose.

Evaluating risks and sustainability New questions around surety risks are emerging and need rigorous examination: • Are the largest EA holders disproportionately increasing the risks faced by the FPS for their own purposes, and for a minor financial contribution?

• Therefore, shouldn’t the FPS be more broadly assessed against the need of the many rather than the larger few?

• How do investments with the Queensland Investment Corporation (QIC) affect cash flow for covering claim expenses?

• Therefore, will the Queensland government’s financial obligations be addressed through emergency budget allocations, or will the scheme suffer from a lack of liquidity if there is a major claim?

With coal providing nearly 70% of funding for the scheme, the FPS is at serious risk if the coal industry continues to face unwarranted challenges. A politically driven decline in coal production won't just hurt regional communities reliant on this revenue; it will also negatively affect the financial wellbeing of Queensland and Australia as a whole.

Industry Evolution and Adaptation

With $5.6 billion already on the Queensland government’s balance sheet due to selective participation in the FPS, is it really a stretch to expand the total ERC to $14 billion?

ERC by Commodity $B Petroleum and Gas, 1.528, 11%

Wouldn’t it be better to charge a fair amount to cover costs more effectively while coal still has global value?

Minerals, 2.771, 20%

Perhaps it is time for a more unified approach that mitigates risks while ensuring financial sustainability.

Coal, 9.403, 69%

Coal

Minerals

Petroleum and Gas

Figure 2, FPS Annual Report 2023-24 Tightening regulations are further stifling the effectiveness of the FPS and its guarantees. External factors like fluctuating commodity prices, global political changes, and the ongoing sale of coal assets also put its stability at risk.

As mine closures get closer and governments make quick decisions based on popular opinions against fossil fuels, trust in the system will completely disappear. This leaves the government responsible for any consequences that arise.

Adapting to the changing landscape So how can FPS contributions be improved to address EA holders' access issues and the future liabilities of the Queensland government?

The Queensland government needs to weigh the benefits of a broad-based financial strategy that caters to all participants in the industry, allowing all operators to participate in the FPS, not just a select few.

A call for comprehensive review If the government continues its systematic fleecing of the coal industry, then it should consider assuming more active control of the risks as well.

The ongoing crucifixion of the coal sector with stringent regulations and a burdensome royalty and tax regime, may give temporary political favour and revenue, but could ultimately destabilise both economic and environmental resilience.

The key lies in approaching these issues with both foresight and adaptability.

A comprehensive review and restructuring of the FPS, considering the genuine needs of all stakeholders, could pave the way for a more robust and equitable financial framework.

Ultimately, it is imperative to recognise that environmental stewardship and economic viability need not be mutually exclusive.

Through the implementation of effective regulations and strategic partnerships, there is an opportunity to reshape the interaction between sustainable mining, environmental stewardship, and community welfare for the future.

As the FPS faces its first actuarial 5-year review, the coming 12-18 months will reveal whether the FPS can evolve to meet these challenges, or whether it will become another example of regulatory failure in a rapidly changing industry landscape. 

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Building a safer future in tailings management: progress, challenges, and opportunities Previn Pillay Founder and CEO, Pyromin Consulting

I

n January 2019, Brazil’s state of Minas Gerais witnessed the country’s worst industrial accident, a shocking collapse that reverberated across the globe. The failure of Vale S.A.'s Córrego do Feijão tailings dam released over 11.7 million cubic metres of toxic sludge, claiming 272 lives and decimating Brumadinho's landscape and ecosystem. The tragic event underscored a harsh truth about tailings management: it is far more than an operational responsibility but a moral and ethical obligation. Each of us in the industry bears a shared responsibility to ensure that such disasters do not happen again.

Image: Turnbull Photography

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Dr David Williams, Professor of Geotechnical Engineering at The University of Queensland, who played a crucial role in the Brumadinho

investigation, has seen both the successes and the failures of tailings management over his four decades in the field. “Tailings management isn’t just a technical issue; it’s a moral imperative,” he stresses. Dr. Williams’ call for accountability isn’t merely a critique; it’s a challenge for us to lead with responsibility and integrity. This article explores the steps we’ve taken, the challenges that remain, and the innovations on the horizon that redefine tailings management for a more resilient future.

Charting new paths towards safer mining The Brumadinho disaster catalysed a shift in industry standards, leading to the development of the Global Industry Standard on Tailings Management (GISTM), launched by the ICMM and the UNEP in 2020.

GISTM introduced enforceable guidelines for tailings facility design, operations and closure, focusing on transparency and community engagement. Today, the ICMM reports that 75% of high-risk tailings facilities operated by its members are aligned with GISTM, with full compliance expected by 2025.

In 2019, the Australian National Committee on Large Dams (ANCOLD) updated its guidelines on tailing management to reflect Brumadinho’s bitter lessons. ANCOLD now emphasises a ‘whole-of-life’ approach, considering tailings facilities not as fixed assets but ongoing responsibilities requiring regular inspection, monitoring, and adaptation.

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Post-Brumadinho, the Brazilian government responded by banning the construction of upstream tailings dams (commonly associated with structural risks) and mandated the decommissioning of existing ones by 2027. Chile and Peru also introduced stricter regulations, requiring mining companies to invest in safer technologies like dry stacking or filtered tailings.

This regulatory evolution reflects an industry slowly but surely redefining what accountability means. However, regulatory frameworks are only part of the solution. Regardless of local mandates, mining companies must go above and beyond, treating tailings management as if every facility were in its backyard.

Harnessing technology for a safer tomorrow Technology is transforming tailings management from a reactive process to a predictive and proactive one. However, each new tool unveils a complex basket of opportunities and challenges: • Real-Time Monitoring Systems: The use of IoT sensors, satellite imaging and drones has revolutionised real-time monitoring, providing detailed insights into the stability of tailings dams. Vale, for instance, now monitors over 200 data points at each of its high-risk sites, tracking critical metrics like soil movement and pore water pressure.

These systems allow operators to detect early warning signs, empowering them to act before an incident occurs. However, the annual cost of maintaining these systems can range from $200,000 to $1 million per facility, depending on the size and scope of the monitoring. In remote regions, connectivity issues can hinder effectiveness, and a shortage of skilled personnel can lead to misinterpretation of data, underscoring the need for continuous investment in technology and training.

• Dry Stacking: By removing water content from tailings, dry stacking reduces the risk of dam failure and mitigates water use—a key advantage in arid regions. Newmont’s Peñasquito mine in Mexico, where dry stacking has been implemented, has become a model for safe and efficient tailings storage. However, SRK Consulting estimates that dry stacking can cost up to 40% more than conventional tailings storage methods, primarily due to dewatering infrastructure and additional land requirements.

While costly, the long-term benefits of risk reduction and environmental resilience make it an attractive option for companies willing to invest in safety and sustainability.

• AI and Predictive Analytics: At Teck Resources’ Canadian operations, AIdriven models analyse decades of data to predict potential failure points, giving operators an invaluable tool for risk mitigation. AI can identify patterns in the data, spotting subtle changes that could signal instability long before a human operator might even notice. Yet the effectiveness of these systems relies on the quality and quantity of data inputs and how they are interpreted. AI implementation remains a challenge for smaller operations, which may lack access to robust datasets. Moreover, data security is a growing concern, as AI models must be protected from cyber threats to ensure the integrity of their insights.

The Aitik Incident – a wake-up call for water management In May 2020, Sweden’s Aitik tailings facility experienced a partial dam failure following a hefty rainfall season. While no injuries occurred, the breach led to significant contamination of nearby water sources. Investigations revealed that the heavy rainfall and insufficient drainage control increased water pressure within the tailings and compromised the dam’s structural integrity. Despite the facility’s advanced design, extreme weather events driven by climate change exposed hidden vulnerabilities.

Boliden, the company operating Aitik, responded by upgrading drainage systems, reinforcing dam structures, and introducing stricter water management protocols. This incident underscores the

critical importance of adaptive water management as climate change heralds more intense and unpredictable weather.

Investing in drainage control, flood barriers, and robust monitoring systems is paramount for mining companies to ensure tailings facilities can withstand the new climate realities.

Building lasting trust In 2021, the BBC reported that the communities hit by the Brumadinho disaster would receive a $7 billion payout from Vale. We must contrast this with the human toll from the frontlines.

"My husband left home for work in the morning, said 'God be with you', as he always did. But he never returned". A few days after the incident, Shirley Gonçalves recounted her husband’s words to the BBC. Her stark words served as a wake-up call to anyone who even briefly entertained the thought that the payout was reparations for the damage. More than simply meeting regulatory requirements, responsible tailings management now rightly mandates an intense focus on engaging the communities that neighbour our operations. Mining companies must actively involve local stakeholders, ensuring their voices are heard and concerns addressed.

Barrick Gold established advisory boards across several of its operations in North America and Africa, inviting community representatives to meet regularly with company leaders. These boards discuss tailings management, environmental monitoring, and emergency preparedness. In Tanzania, Barrick’s North Mara Gold Mine hosts open days where community members can tour the facilities, learn about tailings management practices, and provide direct feedback to the company.

Initiatives like this nurture transparency, turning local stakeholders into informed partners rather than passive observers.

Best practices in community engagement include establishing accessible feedback channels, conducting emergency preparedness workshops, and publicly sharing safety data and incident reports. The adage ‘Show. Don’t Tell.’ takes centre stage regarding transparency and community welfare. Careful management of the social license to operate contributes to a legacy of ethical stewardship.

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Industry Evolution and Adaptation

Companies like BHP and Rio Tinto have incorporated ANCOLD’s standards into their tailings management strategies, aligning them with ESG commitments to demonstrate their dedication to sustainability. Yet, compliance with standards alone is scant motivation for the industry to sleep peacefully at night.

More deliberate action is still warranted.

Emerging trends and innovations Emerging technologies and innovative practices are shaping the future of tailings management. Carbon Capture, Utilisation, and Storage (CCUS) is one such development, with companies like Rio Tinto exploring the potential to mineralise CO₂ within tailings. This approach could align tailings management with global decarbonisation goals, transforming waste into a long-term carbon sink. Although still in its infancy, CCUS offers the potential for mining operations to contribute to climate solutions, turning an environmental liability into a climate asset.

Another exciting prospect is the integration of renewable energy sources into tailings operations. Solar panels and wind turbines could power tailings facilities, reducing their carbon footprint and operational costs. Additionally, as AI technology evolves, predictive analytics will likely become a standard across high-risk facilities by 2026. These systems will offer real-time insights and

Image: Turnbull Photography

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enhance operators’ ability to respond to emerging threats, making tailings management safer, more efficient, and more sustainable.

A call to action for responsible mining The road to safer tailings management is ongoing, and the stakes couldn’t be higher. Leading companies have made tremendous strides, but mammoth work is still ahead. By embracing global standards, investing in cutting-edge technology, and fostering genuine relationships with our communities, we can set a new standard for responsible mining. Let’s ensure that the lessons of Brumadinho are remembered and honoured through our actions.

In the words of Theodore Roosevelt, “The nation behaves well if it treats the natural resources as assets which it must turn over to the next generation increased, and not impaired, in value.” 

More than simply meeting regulatory requirements, responsible tailings management now rightly mandates an intense focus on engaging the communities that neighbour our operations.

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