BBMC Yearbook 2025

Queensland's minerals landscape | Investment and global markets Risk, technology and innovation | BBMC Updates Environment and rehabilitation| People and partnerships BBMC Yearbook 2025

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yearbook 2025 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, Kim Wainwright, Warren Pearce, The Hon. Dale Last MP, Senator Susan McDonald, Stuart Bocking, Matt Anderson, Michelle Manook, Matt Latimore, Paul Flynn, Nick Rees, Jason Economidis, Steve Kovac, Christopher Clark, Michael Jones, Shane McDowall, Mick Storch, Dr Ben Seligmann, Geoff Sokoll, David Milling, Jason Fittler, Melanie Saul, Jodie Thompson, John Watson, Madeline Simpson, Tom Reaburn, Emily Collins, Tayla Spier, Sylvia Bhatia, Anton Guinea, Dr Sean Brady, David Dodd ON THE COVER Image credit: Peter Turnbull | Turnbull Photography Professional images throughout supplied by: Pure Gold Films Turnbull Photography Anglo American Hastings Deering Kestrel Coal Komatsu Liebherr Thiess Whitehaven Coal

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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 2025). 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 2025

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Contents From the Editor

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BBMC UPDATES

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2025 BBMC Luncheons

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QUEENSLAND'S MINERAL LANDSCAPE

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2025 BBMC Crib Room Podcast

92

Resources remain the economic powerhouse of Queensland

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Expanding horizons: The Hunter Mining Club launches

98

Securing Australia’s future in mining

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Why exploration is critical to Queensland’s future

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ENVIRONMENT AND REHABILITATION

100

Queensland’s role in powering the present and building the future

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Dawson Mine — progressive rehabilitation for productive grazing

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Restoring confidence and delivering results for Queensland

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Balancing emissions and practical climate action in the resources sector

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Queensland's future needs coal

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Reimagining rehabilitation

107

Coal is the new black

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Critical minerals and the risk to Queensland's coal heartland

Unlocking economic potential through post-mining land use

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New purpose for Newlands

110

Extracting the value of coal seam gas

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INVESTMENT AND GLOBAL MARKETS

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The great energy reality divide

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PEOPLE AND PARTNERSHIPS

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Growth and diversification: Supplying steelmaking raw materials and critical minerals

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Driving lasting impact in the Bowen Basin through Indigenous partnerships

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Coal’s enduring value in a shifting global landscape

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Breaking the bank: The rise and rise of alternative capital

Digging deeper – learnings from decades of giving from the Queensland resources sector

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Is mining innovation a people problem?

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Ownership trends reshaping the coal industry

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Better together: Redefining success in mining

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Balancing tradition and transition

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The missing piece in safety: Why psychological safety matters more than ever in mining

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RISK, TECHNOLOGY AND INNOVATION

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Why learning is key to effective critical controls

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Why the next productivity gain in coal will come from faster data, not bigger equipment

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Reframing mining’s story: Winning the next generation of talent

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Hydrogen on demand - Practical steps towards cleaner, smarter mining

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How innovation, resilience and collaboration defined Grosvenor Mine’s re-entry journey

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Digitising for wellbeing: Tackling psychosocial risk through WHS innovation

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Seeing the whole risk - How CaNeTa is rewiring risk management in the Bowen Basin

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Clearing the air - Dust control and ventilation opportunities in heavy mining equipment

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The road to zero harm - Technology and road safety fundamentals prevent vehicle-related accidents

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From the Editor jodie currie

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s you open the 8th edition of the BBMC Yearbook, you’re looking at a different snapshot of Queensland’s coal industry compared to previous years. Anyone who’s been around the industry for more than a few years understands the ups and downs of the Bowen Basin, as ours is a truly cyclical industry. But the purpose of this Yearbook is to provide a snapshot of the year that was, and we deliver on that with realistic commentary on current policy settings, reflections on innovations that showcase the best of our industry, and clear steps forward for our future.

Key themes in 2025 Ideology driving policy without regard for the fundamentals You can’t miss it - there’s plenty that our industry has to say about misguided policy based on ideology without consideration for basic energy economics. If you need reminding of that, there’s a wealth of knowledge in these pages about the state of global demand for coal and where Australia and Queensland’s products fit into that picture. From Matt Latimore (page 38), Paul Flynn (page 42) and Michelle Manook (page 35) painting a picture of overseas demand for coal to a sobering reminder of the state of the exploration and projects pipeline (from the MCA on page 10 and the QEC on page 13), it was important to us to bring a holistic view of how Queensland coal powers global success - and has the potential to continue to do so for quite some time, given the right policy settings and certainty for investors.

sometimes it means improving the wheel we already have.

You’ll also find some excellent stories of rehabilitation and post-mining land use, as the Bowen Basin enters an era of rehabilitation with large projects like Newlands closing (page 110), and the progressive rehabilitation of Dawson Mine (page 100).

People driving the future From the first article to the very last, people and skills are a significant area of challenge for the Bowen Basin.

Reframing mining is essential for the continued operation of our industry - whether that’s by supporting the QRC’s ‘A little bit of Queensland goes a long way’ campaign, or getting better at correcting outdated perceptions to win the next generation of talent. Our industry holds crucial importance to life as we know it, makes a difference to the environment and offers a fantastic career where no two days are the same - it just needs the right people.

Collaboration driving innovation

Seeing the big picture

These pages also hold fascinating stories of industry collaboration and innovation, from the Grosvenor mine re-entry (page 67) to the on-site trials of ‘Hydrogen on-Demand’ to increase diesel efficiency. As Mick Jones from Baralaba puts it (page 62), innovation doesn’t always mean reinventing the wheel -

Late in 2025, I was invited as a guest of FutureCoal to Michelle Manook’s address at the National Press Club in Canberra. Michelle’s address was a rousing call to advocacy not just for coal, but for sensible energy policy grounded in practical reality, not a ‘moral test’. Working in coal doesn’t mean we

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spend our days dreaming up ways to pollute the environment - in fact, quite the opposite. Tomorrow’s (and even today’s) low-emissions coal technology provides stable baseload power and is the foundation of a global value chain that underpins steel, cement, aluminium and fertilisers - all necessary for global growth and civilisation.

As an industry, we can sometimes focus on just getting the next tonne out of the ground and miss this bigger global picture. As we move into 2026, I urge you to understand the important contribution you make to our industry, no matter where you sit in the supply chain. From there, you can become the voice that our industry needs advocating and bringing your friends, neighbours and colleagues along on the journey.

2026 holds many exciting opportunities for us to continue telling the story of the Bowen Basin’s excellence and the big picture of coal - from big biennial events like the Queensland Mining Awards to the Queensland Mining and Engineering Exhibition (QME), right down to the everyday conversations you have at the school gate, across the table and around the sporting fields.

Be loud, be proud, and help us build an industry that will be here for generations. 

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Queensland's Queensland's Minerals Minerals Landscape landscape

Image: Yancoal

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BBMC Yearbook 2025

Queensland's minerals landscape

Resources remain the economic powerhouse of Queensland Janette Hewson, Chief Executive Officer Queensland Resources Council

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hile resources remained a cornerstone of our state's economy, 2025 has presented challenges for the Bowen Basin, a longtime powerhouse of Queensland’s resources sector. The sector has needed to be resilient in the face of headwinds from lower coal prices, skyrocketing costs and the world’s highest royalty rates.

Economic Contribution The resilience of Queensland’s resources sector was revealed in the release of the Economic Contribution Report for the 2024-25 financial year.

These conditions have meant some companies have made tough decisions, including job losses and curtailing investment in Queensland.

The producers that make up the heart of the industry know that when the conditions are right, the Bowen Basin can offer a long and prosperous future for the state and for Australia. Rich reserves of high-quality coal that will remain in demand for decades can continue to support more local jobs and deliver economic benefits for all Queenslanders.

Our mining industry is driven by world-class innovation and a highly skilled workforce, but state and federal governments have a key role to play in supporting our sector’s success by getting policies and regulations in place.

At the State level, there has been some welcome progress through starting to streamline the approvals process and opening up new land for exploration and development. But the world’s highest coal royalty rates remain a significant concern and impediment to new investment.

At the Federal Government level, industry waits with some trepidation for the outcome of the reforms to environmental laws. It is crucial that duplication and overregulation is removed so we can get new and mine life extension projects up and running sooner.

Our industry has always been proud of the significant contribution it makes to the strength of Queensland’s economy and the regions, and despite some challenges, the past year was no different.

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Image: Queensland Trade Delegation to India and Japan, 2025

Coal, gas, metals and critical minerals contributed a total of $115.2 billion to the economy and supported 554,728 jobs. That includes those working directly in the industry and people working in associated industries that rely on the resources sector.

It’s down from the $120.2 billion from the previous year but again confirms our sector’s position as Queensland’s largest contributor to the state.

The amount spent by resources companies in Queensland with local businesses and community organisations was steady at $35.8 billion. Despite the challenges some have faced, there is the constant focus to buy local and support the communities where our sector operates. In fact, the number of organisations our sector supported increased 8

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in 2024-25, reflecting the industry's strong commitment to supporting regional communities.

Coal contribution Coal remains the mainstay of the Queensland resources sector, but the numbers reveal the extent of some of the current challenges facing producers from rising costs and lower prices.

Its contribution declined from $85.3 billion the previous year to $76 billion, which is still an impressive 15% of Queensland’s total Gross Regional Product. The sector supported a total of 363,059 jobs, including 49,385 directly, which is 12% of all jobs in Queensland.

Queensland coal operators continued their strong support of communities across the state. They spent a total of $23.8 billion with

8,368 local businesses and 825 community organisations.

Our value to Queensland For all the economic contributions we make and the resources we provide for everyday items, the sector uses just 0.1% of Queensland’s land mass. This little bit of Queensland is the message we’re sharing in the QRC’s latest campaign to build awareness for the significant contribution the industry makes using 0.1% of the state's land mass.

The top-down approach to Queensland operations, including coal, provides the context for the sector’s positive impact on communities across our state through jobs and economic benefits.

QRC regularly undertakes research to check the

sentiments of Queenslanders and their thoughts and opinions about mining. The new campaign will build on the encouraging results from our recent research that found an increasing number of Queenslanders understand the importance of the resources sector to our way of life. The number who agree that mining, including coal, is important to maintaining our way of life rose from 69% a year ago to 75%.

Encouragingly, 88% of people believe that mining has a long-term future in Queensland.

Government engagement Trade delegation The demand for Queensland’s high-quality coal was evident on a recent trade delegation with Premier David Crisafulli to India and Japan this year. India

Japan has a decades-long relationship with Queensland and a strong commitment to the Bowen Basin. India’s demand forecast is underpinned by the country’s energy and infrastructure needs as they continue to develop and urbanise.

There are other countries throughout Asia that have similar needs, which means there will be long-term opportunities for Queensland’s coal sector. Trade delegations like these provide a vital link with our trading partners and an opportunity for our government to hear firsthand about Queensland’s long-term competitiveness.

QRC has continued to engage with the Queensland

Government on a range of issues important to the resources sector throughout the year, including ways to rebuild investor confidence Regional partnerships Over the course of 2025, I have enjoyed travelling to the many regional centres across Queensland that help drive the success of our resources sector.

From Moranbah to Mackay and Rocky to Emerald, it’s always a pleasure to be welcomed by our many regional partners, along with 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.

Our mining industry is driven by world-class innovation and a highly skilled workforce, but State and Federal governments have a key role to play in supporting our sector’s success by getting policies and regulations in place.

I look forward to 2026 and continuing to work with our regional partners across Queensland. 

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Queensland's minerals landscape

and Japan are key markets for Queensland coal exports, and both countries are looking to secure long-term supply arrangements, which is positive news for our industry.

Securing Australia’s future in mining Tania Constable, Chief Executive Officer Minerals Council of Australia

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hile commodity prices rise and fall, while economic uncertainty only increases, while government intervention continues to constrain us rather than enable us, while nations actively wage war on our competitiveness there is one truth that remains constant.

The world continues to have an insatiable appetite for Australia’s bulk commodities, our mineral wealth, our sources of energy, our mining expertise and our ingenuity.

We rightfully boast of the immense opportunities before us – opportunities to build on decades of success in our sector that have brought prosperity to all Australians, to transform our mineral wealth into technologies and innovations, jobs and careers that will define the future.

These opportunities cascade through our sector.

Every new mining job generates 6.14 additional jobs across the economy. And for every $1 million in added demand, $2.36 million in extra output is required, fuelling growth for the businesses that support and collaborate with mining.

The Centre for International Economics estimates that the expansion of mining this century has increased household incomes on

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average by $19,000 compared to what they would otherwise have been.

The MCA won’t shy away from the facts: last year, mining delivered $4.5 billion more in company tax than Treasury forecast, and stronger-than-expected commodity prices pushed nominal GDP up to 4.1%.

But while we see opportunity, we must confront the challenges that stand in the path to realising them. We must be honest about the hurdles we need to overcome, for our success is Australia’s success and our progress is Australia’s progress.

Australia has the resources, expertise, and global reputation to remain a powerhouse of the world economy. But Australia must act now. The trend is clear: while mining continues to be the backbone of the economy, investment is stalling. Australia is living off its past investments, rather than building for the future.

Mining has accounted for 30% of Australia’s capital investment over the last decade, yet real net capital stock has plateaued at a time when it should be surging.

Nominal investment growth is largely being driven by rising project costs and sustaining capital – not by new project development.

Foreign Direct Investment (FDI) in Australian mining from OECD sources has collapsed – falling from an aggregate of US$50 billion in 2013 to just US$7.5 billion in 2022.

Meanwhile, Canada – our direct competitor for mining capital – has maintained strong OECD investment flows, with new FDI into Canadian mining exceeding US$10 billion in both 2021 and 2022.

Queensland's minerals landscape

We must focus on the industries that will drive productivity in the decades ahead. One of the greatest opportunities before us is Australia’s role in supplying the world with critical minerals.

We hear a lot about the value of projects coming through the pipeline, but the reality is that only one in 20 major resource projects in Australia progresses from feasibility to final investment decision each year. And even for those that do, S&P estimates that the average lead time to production is now 18 years – up from just 13 years for mines that started 15 years ago. The system is slowing, not improving.

Australia is a resource-rich country, but the investment environment is making us a riskier bet for capital. And in a sector where investors have choices, money is mobile.

We must focus on the industries that will drive productivity in the decades ahead. One of the greatest opportunities before us is Australia’s role in supplying the world with critical minerals. The minerals industry is key to achieving a net zero carbon future as without mining and minerals processing, there is no clean energy transition. These minerals – including copper, nickel, lithium, cobalt, rare earths – are essential for the technologies that will power the future: electric vehicles, renewable energy, and advanced manufacturing.

The world is not short on demand for minerals – but investment is cautious.

Capital will only flow to countries that provide the right environment to do business.

The threat of higher taxes on our industry is not an embellishment.

In the MCA 2025 Tax Plan, we are advocating for the Junior Minerals Exploration Incentive to be made permanent and expanded. This initiative has helped level the playing field between junior explorers and large companies that can deduct exploration expenditures from taxable income earned from mining activities. But the annual cap and structure limit its effectiveness. Raising the cap and improving certainty in credit allocation will unlock more investment and drive new discoveries.

The MCA is also pushing for accelerated depreciation for all businesses in the room to encourage new investment, and a broad-based 20% investment allowance.

Mining has always been at the heart of our national prosperity, and it must remain so. But prosperity is not guaranteed. Investment is not guaranteed. Competitiveness is not guaranteed. We cannot afford to be complacent – not when other nations are moving faster, cutting red tape, and making it easier to do business.

We need policy settings that encourage investment, not drive it away.

Australia should be the world’s preferred mining and investment destination, as it used to be – a country that backs its resources sector, embraces opportunity, and secures its future prosperity.

We have built one of the strongest mining industries in the world. Now, we must fight to keep it that way. 

Image: Turnbull Photography

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Despite the headwinds, explorers continue to rate Queensland’s geology as world-class. The opportunity is there; we just need to unlock it.

Why exploration is critical to Queensland’s future Kim Wainwright, Chair Queensland Exploration Council

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ueensland’s worldclass resources sector underpins our state’s economy, regional communities, and national prosperity.

However, the hard truth is that there’s not enough exploration to ensure a pipeline of new projects to ensure the future success of Queensland’s resources sector, and urgent action is needed to turn it around.

Greenfield exploration now accounts for just 21% of Queensland’s total mineral exploration spend, the lowest in the 15 years of tracking by the Queensland Exploration Council’s (QEC) Exploration Scorecard. This steady retreat from new discoveries towards brownfield activity puts the long-term viability of Queensland’s resources sector at risk.

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Queensland production remains strong, but we need new mines to replace those tonnes needed for the energy transition, medical equipment and emerging technologies. Few new discoveries are being made in Queensland to secure the state’s future supply.

As existing deposits approach end-of-life, the replacement horizon is narrowing.

Greenfield exploration is the only way to replenish Queensland’s resource base, extend mine life, and sustain the many thousands of jobs, regional investment, and critical export earnings. Without new discoveries, Queensland risks losing its position as a national leader in resource development and a key contributor to national resource and mineral supply security.

Why exploration matters Exploration is more than finding the next big mine; it’s the foundational industry that supplies Australia’s industrial and strategic future. Every tonne of critical minerals in our supply chain, every petajoule that powers the electricity grid, and every tax dollar that funds hospitals and schools begin with exploration.

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Exploration is also the foundation of innovation and scientific advancement. It drives geoscience mapping, new drilling technologies, and data analysis that benefit multiple sectors, from environmental monitoring to groundwater management.

Investment in exploration delivers long-term dividends that extend well beyond mining.

Queensland can’t carry the load alone

Image: Hastings Deering

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The east coast gas market crunch is real, and Queensland has been doing the heavy lifting. Petroleum exploration in Queensland fell 12% in 2024–25, even as the domestic market tightens and legacy basins like Gippsland decline. For over a decade, Queensland’s coal seam gas fields have sustained both domestic demand and LNG exports, supporting thousands of jobs and regional economies.

Queensland's minerals landscape

The case for government support

But it is neither technically nor economically feasible for Queensland to shoulder the burden indefinitely. The higher costs of coal seam gas production, coupled with transport and infrastructure constraints, require more market players in the right geographical locations to secure a reliable and affordable supply across Australia. Without new greenfield discoveries across the east coast, particularly in underexplored basins, future supply shortfalls are inevitable.

A global competition for capital Exploration is capitalintensive and high-risk, requiring early-stage investors who are willing to back vision and geology long before returns are visible.

Yet capital is increasingly difficult to secure. Explorers are competing globally for investment against jurisdictions with faster approvals, clearer policy signals, and targeted incentives.

Increasing costs of exploration, along with lengthy environmental approvals and permit processes, are deterring investors and limiting the ability of junior explorers to get boots on the ground.

Juniors are the lifeblood of discovery, responsible for most major finds in Australian history; yet they are the most exposed to risk and cash flow pressure.

Greenfield exploration is inherently riskier than brownfield activity, but it is where the next generation of Tier 1 deposits will come from. Government support is essential to reduce the risk for early-stage investors, attract private capital, and sustain the skills pipeline that underpins the sector.

Mechanisms such as the Collaborative Exploration Initiative (CEI) grant, flowthrough share schemes, and exploration incentive credits have proven successful in both Queensland and other jurisdictions.

Encouragingly, green shoots are appearing as the Queensland Government moves to streamline project approvals and provide greater departmental assistance to explorers, through the establishment and following actions of the Resources Cabinet Committee.

Unlocking opportunity Despite the headwinds, explorers continue to rate Queensland’s geology as world-class. The opportunity is there; we just need to unlock it. Exploration tenure is at an all-time high, with 2,173 exploration permits for minerals granted as of June 2025, signalling strong sector engagement across commodity groups. However, tenure alone doesn’t deliver supply. Without infrastructure, timely approvals, and investment certainty, these projects risk stalling before they start.

Greenfield exploration is only the first step; turning potential into production requires coordinated action from government, industry, and investors.

The cost of inaction A strong exploration sector depends on fair and balanced policy settings, one that reward risk, cuts red tape, and ensures the regulatory process is efficient, transparent, and consistent.

Streamlined approvals, competitive fiscal settings, and investment in regional infrastructure (roads, ports, power, and data) are critical to turning tenure into tangible results.

If we fail to act, the consequences will ripple across the economy. Without new discoveries, Australia’s resources production base will shrink, regional jobs will decline, and the government revenue that funds essential services will erode. More critically, we will lose strategic autonomy over the minerals and energy that underpin economic security.

Queensland’s geology holds extraordinary potential.

The challenge is to match it with vision, investment, and action.  BBMC Yearbook 2025

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Queensland’s role in powering the present and building the future Warren Pearce, Chief Executive Officer Association of Mining and Exploration Companies (AMEC)

A

ustralia’s resources sector remains one of the most diverse and resilient in the world. From coal and iron ore to copper, lithium, and rare earths, our industry continues to anchor the national economy while adapting to meet new global demands.

In Queensland, that diversity is especially visible. The state’s coal industry continues to deliver immense economic strength, providing essential power and keeping regional communities alive. And the billions contributed via royalties represent 24% of all government revenue last year - revenue that is used to fund hospitals, schools, and essential infrastructure. Yet, even as it powers the present, Queensland is also positioning itself for the future.

Image: Liebherr

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Across the Bowen Basin, traditional energy exports remain a cornerstone of prosperity. Meanwhile, in regions like Mount Isa, Julia Creek, and Townsville, a new generation of critical minerals projects are emerging, from copper and vanadium to rare earths. And it is becoming quite clear that Queensland is not choosing between the old and the new. It is ‘walking while chewing gum’ by building on both.

Queensland's minerals landscape Image: Turnbull Photography

For decades, Queensland’s metallurgical and thermal coal exports have been world-class. In the 2024 financial year Queensland exported almost 200 million tonnes of coal to more than 30 countries, including China, Japan, India, and key European markets. The state government says this export is a premium resource that is essential for about 75% of the world’s steel mills.

These industries have built regional economies, supported tens of thousands of families, and helped Australia weather global economic storms.

So even in an era of energy transition, the reality is that coal remains vital.

Metallurgical coal will continue to be critical for steel production for decades to come, and developing nations still rely on thermal coal as they balance growth with decarbonisation. Queensland’s industry has evolved to meet the highest environmental and safety standards, positioning it as among the most responsible producers in the world.

It is precisely this foundation that now enables Queensland to diversify successfully. The same railways, ports, and skills that supported established mining sectors are now helping the state lead in copper, vanadium, graphite and rare earth exploration.

At the beginning of 2025, the Federal Parliament passed the Critical Minerals Production Tax Incentive (CMPTI), as part of the Federal Government’s Future Made in Australia policy. Leaving the politics aside, this injection of $7 billion over 10 years represents a landmark development for our nation, and an opportunity for Queensland.

AMEC’s advocacy helped secure this 10% production credit for companies processing critical minerals domestically, delivering much-needed confidence to investors and downstream developers.

For Queensland, it complements, without replacing, the state’s existing strengths. The regions that once built the backbone of the traditional

resources industry are now expanding their expertise into new frontiers. These commodities are central to the energy transition and global decarbonisation.

This is highlighted by the CopperString project, now estimated to be worth around $14 billion, with the state government committing $2.4 billion.

CopperString will provide affordable, reliable and sustainable energy to the state’s North West region, and deliver jobs and economic growth to industry and regions.

It’s an example of how the reliable revenues of traditional commodities like coal, are helping to fund the next phase in the state’s resource industry.

This year’s meeting between Prime Minister Anthony Albanese and U.S. President Donald Trump also signalled a major milestone for the resources sector.

The resulting $8.5 billion Australia–U.S. Critical Minerals Framework underlines just how strategically significant our resources have become.

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However, as the Federal Government reshapes the Environment Protection and Biodiversity Conservation Act (EPBC), there are positive signs that this sorry tale is soon to be put to bed.

It wasn’t just a handshake over trade, it was an alignment of national interests.

The agreement recognised Australia’s unmatched capacity to provide secure and reliable supply chains for the materials that power modern economies and defence technologies.

Queensland’s copper, graphite, and vanadium projects, along with Western Australia’s lithium and rare earths, stand at the centre of this opportunity.

Together, they form the foundation of an Australian supply chain that can fuel everything from electric grids to global manufacturing.

This agreement is the culmination of years of advocacy and policy groundwork that highlight how integral Australia’s explorers and miners are to the global future. AMEC has been proud to represent member companies at the table throughout this evolving dialogue.

And it should be noted, the key role Australia’s Federal Resources Minister, the Hon. Madeleine King played in achieving this outcome for Australia.

It started with the development of Australia’s critical mineral strategy, and successive commitments to prepare and position Australian industry to take advantage of this opportunity. It now opens the door to new international investment and builds on the CMPTI. While the policy landscape has delivered major wins, it has also brought continued complexity. Across the nation, environmental reform has dragged out over the last five to six years. This has left companies and investors perplexed and frustrated, at what looks like a never-ending string of red and green tape.

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Queensland Senator and Minister for the Environment, the Hon. Murray Watt is leading the charge, moving swiftly to reset environmental regulation, formerly known as ‘Nature Positive’.

After consultation with industry and relevant stakeholders, the proposed changes are now before parliament and a Senate inquiry. Hopefully, Minister Watt can strike a deal with the parties of government to bring this long-winded disruption to a conclusion.

The goal should not be to add new layers of process but to remove duplication, accelerate decision-making, and maintain world-class standards.

The exploration and mining industry understands the important role we play in protecting the environment. This can be balanced by sensible policy, with efficiency at its core, to create greater productivity for Australia.

Looking ahead and taking note of the global competition from governments around the world for access to the minerals that will define the next century, the concept of a national Critical Minerals Strategic Reserve has gained momentum.

Done poorly, such a reserve risks distorting markets. Done well, it can provide price stability, underpin financing, and encourage processing within Australia. It will also serve as another pillar in our burgeoning relationship with the United States.

For Queensland, this could mean more investment in the North West Minerals Province, more domestic refining capacity, and greater regional diversification, all supported by the continued strength of traditional exports.

Image: Liebherr

The partnership between established industries and emerging ones is not just desirable, it is necessary. The steel made from Queensland’s metallurgical coal will help build the infrastructure needed for renewable technologies. The copper and vanadium extracted from the same regions will help transmit and store clean energy.

The industry’s evolution is not about replacing one commodity with another but about broadening our national portfolio. And it happens with the innovation and hard work of the people working day and night in our great resource sector.

These outcomes don’t happen by chance.

It’s our role as a national advocacy body, to ensure we get the framework right, so that people and companies can get on with the job and translate that work in the field into strong results for our state and country.

That’s what our team at AMEC are motivated to do, with determined advocacy, to ensure explorers and midtier miners have a seat at every table that shapes our future.

Queensland's minerals landscape

Queensland’s coal and traditional commodities will continue to power Australia’s economy for many years to come. They are the foundation on which new opportunities are being built. Critical minerals are not a departure, they are an expansion of the same success story.

The recent Albanese–Trump agreement reminds us that the world is watching for Australia’s capability and looking to invest in it. The responsibility now is to deliver policies that provide certainty, fairness, and competitiveness for every part of the industry.

Our mission remains unchanged: to advocate for balance, to protect the present, and to help shape the future.

Because the story of Australian mining has never been about one resource. It’s about the people, companies, and communities that continue to power the nation forward.

The industry’s evolution is not about replacing one commodity with another but about broadening our national portfolio. And it happens with the innovation and hard work of the people working day and night in our great resource sector.

The work is not finished, but with the momentum of past success, and the support of our members, we are ready for the challenges ahead. 

Standing with Queensland At Whitehaven, we’re committed to supporting the communities that support us—especially across Central Queensland.

We continue to invest directly in the regions where we live and work, with $2.1 million dedicated to local partnerships and community initiatives in FY25.

It’s all part of our promise to help regional Queensland thrive.

Learn more about the difference we’re making at whitehavencoal.com.au

BBMC Yearbook 2025

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Image: Hastings Deering

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BBMC Yearbook 2025

Queensland's minerals landscape

Restoring confidence and delivering results for Queensland The Hon. Dale Last MP Minister for Natural Resources and Mines

C

entral Queenslanders know all too well about the impact of policy uncertainty, unpredictable decisions, and investment bottlenecks. But that era is over.

Under the Crisafulli Government, we are restoring the confidence our sector needs to thrive by cutting red tape, clearing approval backlogs and getting the fundamentals right.

While I write my contribution to this year’s Bowen Basin Mining Club’s Yearbook as the Minister for Natural Resources and Mines, my most important job is serving as the Member for Burdekin. It’s an electorate that spans across Middlemount and Moranbah, from Clermont to Collinsville. So I don’t need a briefing note to understand what the resources sector means to our region. I live it every day.

When the resources industry is strong, Queensland is strong.

And when investment flows into the Bowen Basin and beyond, the benefits are felt far beyond the mine gate.

My message to miners, investors, contractors and communities has been clear from day one: Queensland is open for business.

And we’re backing that message with action.

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Queensland is open for business. And we’re backing that message with action.

We’ve renewed 11 coal mining leases in our first year in office, matching 44% of what the previous government managed in an entire four-year term.

We’re also approving new petroleum leases and delivering critical support for mineral exploration and project development through the land release review I commissioned earlier this year.

But it’s not just about the volume of approvals. It’s about the certainty of decision-making. Whether the answer is yes or no, proponents deserve timely, predictable responses. We all know delays cost jobs and ambiguity kills projects.

That’s why I’ve stood up the Resources Cabinet Committee, a dedicated forum bringing together the key Ministers across Resources, Environment, Planning, and Energy, to clear the pipeline and drive practical reforms across the system. We’re already seeing the dividends of restored confidence.

Earlier this year, Bravus Mining & Resources announced a $50 million expansion at the Carmichael mine, setting the stage for over half a billion dollars in future works and 600 new regional jobs. That investment stretches well beyond the mine site, supporting contractors in Townsville, suppliers in Rockhampton, and apprentices in Mackay.

22

BBMC Yearbook 2025

Global demand for our highquality coal remains strong, especially from major Asian economies seeking reliable baseload energy. Demand for coal has nearly doubled since 2000, and around half of the world’s coal demand is driven

by China, India and SouthEast Asia. These economies show no sign of slowing down, and that’s good news for our part of the world.

Few places on earth are better positioned to meet that demand than the Bowen and Galilee Basins. We’ve got the world’s best coal reserves and the rail and port infrastructure to deliver what our global export partners need.

At the same time, the world is looking to Queensland for the critical minerals and metals like copper, zinc, vanadium and rare earths, needed to power defence systems, advanced manufacturing, and the global energy transition.

In North-West Queensland, we’re delivering a $400 million investment in the Mount Isa copper smelter and Townsville refinery alongside the Commonwealth, securing more than 1,000 regional jobs and anchoring copper and minerals processing in the state’s north.

We’ve also secured commitments to unlock access to copper tailings at the Mount Isa Mine and to fast-track projects like Glencore’s Black Star Open Cut and the Eva Copper development, as well as delivering targeted rail incentives for emerging phosphate producers, helping them reduce costs and scale up operations.

I’m focused on growing our resources sector.

And you can’t grow the resources sector without a skilled workforce to match.

Everywhere I go, whether it’s Moranbah, Mount Isa or Mackay, I hear the same thing: we need more workers.

To meet that demand, the Crisafulli Government has expanded the Queensland Minerals and Energy Academy (QMEA) into 50 more schools, reaching an additional 10,000 students.

For the first time, QMEA will also deliver programs in primary schools, helping spark early interest in STEM and the resources sector.

This is not just about promoting great career pathways. It’s about giving regional kids the chance to stay in their communities, build a future, and raise their families near home.

The Crisafulli Government is unashamedly pro-resources, and we’re demonstrating that by setting clear, stable expectations, then getting out of the way of those who meet them. My focus is on turning approvals around faster, while maintaining strong environmental and safety standards and giving every project proponent a fair go.

We know what’s at stake, and we have no intention of letting opportunities pass us by. 

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BBMC Yearbook 2025

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Queensland's future needs coal Senator Susan McDonald, Federal Shadow Minister for Resources, Shadow Minister for Northern Australia and LNP Senator for Queensland

I

love Australian coal, but most of all, I love Queensland coal.

Everywhere I go, I repeat this message, because we all have a reason to love Australian coal.

Coal mining in Queensland has trained apprentices into mining experts, supported thousands of families in wellpaid jobs, grown small businesses into bigger businesses and it has powered our nation for generations, and powered our neighbours for centuries.

The mining of coal has generated millions of dollars in royalties, payroll 24

BBMC Yearbook 2025

tax and company tax to the benefit of Australians, and the export of coal has ensured our balance of trade allows Australians to buy the home goods we enjoy. High-energy Australian coal is used in the steel mills of Europe and Asia and the next generation of high efficiency-low emissions power plants in Japan and China. As the world continues to urbanise and industrialise, Australian coal will be on the front lines of this revolution.

Across the globe, people are beginning to realise that we cannot solely rely on one or two forms of energy – we need all forms of energy, available right here, right now. It is abundantly clear that the growth in global energy

demand is skyrocketing, and we have an opportunity to capitalise on that.

In 2024 the International Energy Agency (IEA) projected that: • global coal demand would rise by 1.5% to reach a new record (in quantity, not in price); and • global coal production would grow by 1.4% to an all-time high.

In 2024 coal use for power generation reached its highest recorded level; and global coal trade reached a new all-time high.

In 2025, global coal production is expected to rise again, setting another new record. The IEA’s most recent

Queensland's minerals landscape

World Energy Outlook 2025 shows oil and gas demand increasing out to 2050 and beyond, with coal demand peaking but remaining strong at just under 5 billion tonnes annual demand in 2050.

What an impressive set of statistics for an industry activists claim is dying.

Developing nations are looking to industrialise; major economies are turning towards the rollout of data centres as artificial intelligence steps onto the world stage; governments are grappling with the social and economic cost of severe energy price rises, thanks to rushed policy changes. Australia has the expertise, the workforce, and the resources to continue fuelling the world.

In the 1970s Premier Sir Joh Bjelke-Petersen transformed the Queensland economy with massive investments in State infrastructure and development, including the expansion of our great electrified rail network into the Bowen Basin. This foresight and leadership have both powered our State and our economy, and over five decades later, Queenslanders still enjoy strength, growth, and prosperity thanks to this.

Our coal mines gave Queensland affordable, reliable power, which grew our manufacturing sectors, transformed our State, and brought new jobs and opportunities to the regions – because energy is the economy. It is clear that Queensland would not be the place it is today without this foresight and investment.

Image: Turnbull Photography

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We cannot let short-term mentality override sensible policymaking. Government should be fostering and encouraging new investment, not penalising those who took a risk decades ago, or picking winners as assets come under pressure.

In 2025, we must ensure that the decisions we are taking now produce a better Queensland in 2075.

We need to ensure that Queensland can bring in the investment and productivity to bring us further strength.

But where is that long-term vision now?

Federally, we have a Labor Government that continues to intervene in our energy market and our economy, with little regard for the damage it is doing to our investment environment or the impacts on our businesses. They think they know better than business, and act without regard for the hundreds of thousands of current and future jobs, the taxes and royalties that fund government spending like Medicare, that they put at risk with their actions.

Closer to home, the impacts of Queensland Labor’s coal royalty hike are being felt right now. There is an exodus of investment, whether for new projects or expansions, from Queensland to other states and countries, thanks to the punishing nature of this hike.

All mining projects – but particularly coal – need billions of dollars of capital raised before the first shovel even hits the ground. It requires years of negotiating through arduous approvals projects, negotiations with 26

BBMC Yearbook 2025

landholders and traditional owners, secure offtake agreements and customers, and this all comes at a massive cost, before a single dollar of revenue is raised.

Once all this has occurred – barring any vexatious litigation from anti-mining activists – these companies have to grapple with huge cost of production pressures, thanks to skyrocketing energy prices, and continue to pay some of the highest wages in the country.

All this just to get to production – and then the coal price crashes. It is not easy to start a new mine in 2025, and this should be of great concern to anyone invested in the future growth of Queensland.

Our mining companies take huge risks investing in our great resources, and these investments have helped transform both the regions and Brisbane.

The security of these investments lies with a stable, clear regulatory regime, and a clear pathway from first discovery to production. We cannot continue to change the goalposts for mines and companies as they try to navigate our approvals landscape – it already takes on average 16 years for a mine to reach production.

To secure future investment in our great resources industry, we must look back to the actions of 1960 Queensland – long-term, strategic planning, over short-term sugar hits. These investments are slow-burn ones; there will always be good years and bad years, but the strength of our industry is built on long-term plans and regulatory stability. This will secure our investment pipeline for the future.

We cannot let short-term mentality override sensible policymaking. Government should be fostering and encouraging new investment, not penalising those who took a risk decades ago, or picking winners as assets come under pressure.

We can all feel the costof-living pressures biting us right now – and our mining sector is feeling those too. Skyrocketing energy prices, spiralling labour costs, anti-productivity industrial relations policies, a stagnant approvals process and continued market interventions are all destabilising Queensland’s investment environment.

There is hope on the horizon however, because I have faith in Queenslanders.

The Crisafulli LNP Government is bringing sensible policy back to Government decision making, working hard to deliver for Queenslanders, and getting the investment settings right to restart productivity in our great State.

Advocates like the Queensland Resources Council and Coal Australia are making sure that decision makers right across the political spectrum are hearing your voice, and fighting for the Bowen Basin.

More broadly, the discussion around energy, emissions, and what role Australia plays in the global picture is changing.

Sensible policy must trump ideology, and prioritise affordable, reliable energy for Australians whilst still bringing down emissions in a sensible, deliberate manner.

I am resolute that there is still a future for Queensland coal. I have never shied away from this, and will continue being your voice in Canberra, along with Andrew Willcox, Michelle Landry, Colin Boyce, Phil Thompson and Senator Matt Canavan, because when the Bowen Basin is strong, Queensland is strong. 

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Coal is the new black Stuart Bocking, Chief Executive Officer Coal Australia

W

hat a year it has been – when I reflect on last year’s column by Coal Australia’s Founder Nick Jorss, I had just come on board as CEO, no pressure.

This is precisely the transition we need – transitioning energy policy from fantasy to reality, with coal very much at the centre of it.

He had helped lay a terrific platform for Coal Australia, and it has been a remarkable twelve months with our Friends of Coal now going past 110,000 people. Each week, they receive an update on our activities, how we shape the positive messages for our coal mining communities, and observations on what is occurring in the coal, energy, infrastructure, and steel production spaces.

The bubble has burst on the hydrogen myths for so-called ‘green’ steel production, with our world class steel-making coal in high demand.

The facts speak for themselves and have become a series of ‘inconvenient truths’ for those who would demonise coal or seek to downplay its importance and relevance to a modern economy like Australia’s.

Here are just a few.

Image: Bravus Mining and Resources Image: Hastings Deering

28

BBMC Yearbook 2025

• Global coal consumption for the calendar year 2024 reached record levels at 8.8 billion tonnes, and it is set to push past 9 billion tonnes in this calendar year.

• Coal continues to generate the bulk of electricity going into the east coast energy market.

• The life spans of coal-fired power stations are being extended in Victoria and NSW. • Modelling by respected firm Arche Energy shows coal remains the cheapest and most reliable form of baseload electricity.

• The release of the Queensland government’s Energy Roadmap 2025 recognises this modelling with a plan to use more coal, for longer.

First-world near-neighbours such as Japan and South Korea recognise this, and while they are signatories to emissions reduction targets, they continue to demand Australia’s quality thermal coal. Many other countries are following suit.

And the banks, financiers, and major super funds are suddenly taking a much closer look at coal mining operations again.

A big part of Coal Australia’s mission is to tap into our coal mining communities to promote the importance of coal. This year we have travelled to Muswellbrook, Singleton, Wollongong, Newcastle, Rockhampton, Mackay, Moranbah, Middlemount, Brisbane, Sydney, Canberra, and even Singapore, to name the first ones that spring to mind.

Coal Australia’s range of merchandise is growing in popularity, particularly the shirts, caps and stubby holders, and it is a fun part of our grassroots advocacy in support of coal mining communities.

As a national body, we now have dedicated staff in Brisbane, Newcastle and the Hunter, Central Queensland, Canberra, and Sydney.

During the run-up to the May federal election, Coal Australia held a series of dedicated ‘Meet the Candidate’ town hall events, covering key electorates in the Newcastle-Hunter region, Wollongong and the broader Illawarra, and Rockhampton. The discussions centred on energy security and the importance of coal, among other hot topics, such as offshore wind farms.

Keep our coal communities strong When Australians rely on coal, they’re relying on coal communities.

Show your support for our coal communities CoalAustralia.com BBMC Yearbook 2025

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Image: Hastings Deering

The candidates were drawn from across the political spectrum – yes, even the Greens. Our political engagement continues at a federal level, while Coal Australia regularly meets with key players in the NSW and Queensland parliaments as well.

This is all about building support for coal and to reinforce the reality of global demand for coal at a time when the facts can be overshadowed by political rhetoric at home.

This is all about building support for coal and to reinforce the reality of global demand for coal at a time when the facts can be overshadowed by political rhetoric at home.

When you travel overseas and talk to key customers for Australian coal, they cannot believe the debates that play out here and are genuinely concerned about potential risks to ongoing supply.

And while the facts stack up for coal, the challenges remain – Coal Australia continues to engage with the Queensland government over the state’s unsustainable royalty regime.

The impacts are being felt right across the sector, with mine closures, a pullback in production, and tragically, job losses. No one wants to see this, and that’s why the issue is core business for Coal Australia.

The Federal government’s reforms to environmental and project approval laws are another important issue, alongside the creation of a Commonwealth Environment Protection Agency. Given that the existing state-based EPAs are already flexing their policy muscles, particularly in NSW, we must avoid duplication and over-regulation.

Next year there will be a review of the Safeguard Mechanism which imposes obligations on coal miners to reduce their emissions – that is another key issue for Coal Australia.

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BBMC Yearbook 2025

Coal Australia also works with other resources industry bodies in a constructive and collaborative way, adding another key voice to national and state debates on issues impacting our coal mining communities.

Coal delivers this in spades – and very big trucks too.

Thanks to our Chairman Rob Bishop, Founder Nick Jorss, our Board of Directors and our dedicated team who go above and beyond because of their belief in, and passion for, the importance of coal.

Coal Australia will continue to advocate in support of coal, and our current positive media campaign is all about keeping our coal communities strong. 

There is so much of which our sector can be proud - the positive impact our producer members play in improving the collective skills and knowledge base of our workforce; the direct and indirect jobs we generate; the prosperity we deliver; the associated businesses that thrive when coal mining thrives; the positive role we play in electricity generation not just locally, but for developing countries too; and the importance of steel production for the infrastructure that drives economies.

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Queensland's minerals landscape

It is worth noting that our member producers are already doing a lot of work in this space and in NSW, emissions from coal mining are being reduced at a higher rate than the state average; another inconvenient truth for our detractors.

Critical minerals and the risk to Queensland's coal heartland Matt Anderson, Director - Research and Consulting Commodity Insights

T

he rise of critical minerals such as lithium, cobalt, and rare earth elements has become central to global narratives around the clean energy transition. These minerals are marketed as the building blocks of a decarbonised future, underpinning renewable energy systems, batteries, and electric vehicles.

However, what is ‘critical’ globally may not align with what is critical regionally. Nowhere is this tension more evident than in Queensland’s Bowen Basin, where coal mining underpins both the economy and community identity.

Coal’s dominance in the Bowen Basin Coal remains the backbone of Queensland’s resource economy, particularly in the Bowen Basin - the world’s largest metallurgical coal-producing region.

Bowen Basin 2025 Snapshot Indicator

Metric

Share

Total resource-industry workforce

47,155 FTE

100%

Coal mining workforce

44,325 FTE

94%

Other resource industries

2,830 FTE

6%

Saleable coal output (2024-25)

190.2 Mt

 from 196.1 Mt (2023-24)

Contractor share of workforce

27,815

50%

Indicator

Metric

Share

Total resource-industry workforce

58,273 FTE

100%

Coal mining workforce

45,924 FTE

79%

Other resource industries

12,329 FTE

21%

Saleable coal output (2024-25)

223.9 Mt

 from 226.8 Mt (2023-24)

Export saleable coal

195.2 Mt

 from 199.2 Mt (2023-24)

Queensland-wide 2025 snapshot

Image: Turnbull Photography

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BBMC Yearbook 2025

Queensland Mining Workforce (FTE Positions) 50,00 37,500 25,000 12,500 0

Coal

Coal

Gold Gold

Copper

Copper

Bauxite Bauxite

Lead Lead

Zinc Zinc

Phosphate Phosphate

Other Other

Source: Commodity Insights estimates

Critical minerals offer a potential long-term opportunity for Queensland, but in the short to medium term, they present a transition risk, not a substitute for coal-dependent regions like the Bowen Basin.

These numbers point to a workforce heavily anchored in coal production, both operationally and socially, which means any shift away from coal has significant implications for regional employment.

Critical minerals: emerging but small scale Australia holds major global resource shares, estimated as around 27% of the world’s known lithium resources, 22% of nickel, and 21% of cobalt. But to commercialise these to a scale and size that would offset Australia’s current three largest economic contributors, iron ore, coal and LNG, the critical minerals industry needs a clear strategy.

Despite this, Queensland’s critical minerals workforce remains small. The Australian Critical Minerals Strategy 2023– 2030 positions the sector as a national growth priority, but there are no robust job forecasts for Queensland, and current operations remain modest compared with coal.

Critical minerals projects are often capital-intensive but less labour-intensive than coal mining. This means that even if production grows, employment opportunities may not scale proportionally, creating a transition gap for workers in regions like the Bowen Basin.

Transition risk and regional exposure The Bowen Basin’s dependence on coal creates several key transition risks: Risk Category

Description

Workforce mismatch

The coal workforce (~47,000 FTE) is operational and service-orientated, while critical minerals demand technical and processing skills. Direct redeployment is limited without major retraining programs.

Job volume gap

Current and near-term critical minerals employment is far smaller than coal, meaning displaced workers may not find locla replacements.

Regional economic dependancy

Local businesses - transport, retail, accommodation rely heavily on mining activity. Reduced coal output would ripple through the local economy.

Fiscal and export exposure

Coal royalties and export earnings underpin Queensland's fiscal capacity. Declines here could constrain state-funded infrastructure and services.

Policy priorities for a managed transition If the goal is a sustainable and equitable energy transition, government and industry must balance national decarbonisation objectives with regional realities. Key steps include: 1. Develop credible transition pathways Large-scale retraining and certification programs targeting coal-region workers for critical minerals processing, battery manufacturing, or mining services.

2. Set quantitative, region-specific targets Define job creation and investment benchmarks for Central Queensland’s critical minerals sector.

3. Support industrial diversification Encourage downstream processing (e.g., refining, precursor materials) near existing coal towns to anchor jobs locally.

4. Stabilise coal regions during transition Implement staged decline policies, redeployment incentives, and local investment funds to manage change without social disruption.

5. Align incentives and infrastructure Adapt royalties, training subsidies, and infrastructure funding to sustain regional prosperity through the transition.

Critical minerals offer a potential long-term opportunity for Queensland, but in the short to medium term, they present a transition risk, not a substitute for coal-dependent regions like the Bowen Basin.

Without targeted, data-backed policy intervention, the shift toward a ‘critical minerals economy’ could destabilise core mining communities, undermine local employment, and erode the fiscal stability built on coal exports.

A just transition for Queensland’s coal heartland must therefore prioritise people and place as much as minerals and markets.  BBMC Yearbook 2025

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Queensland's minerals landscape

These figures show a resource economy heavily anchored in coal. Over 90% of the Bowen Basin’s mining jobs - and nearly 80% statewide - depend directly on coal. Any decline in the sector, therefore, carries deep employment and economic risks for regional Queensland.

Investment and nvestment and global markets global markets

Image: Kestrel Coal

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BBMC Yearbook 2025

Investment and global markets

d s

The great energy reality divide Michelle Manook, Chief Executive Officer FutureCoal

R

eality has, at last, mugged ideology everywhere in the world – except Australia.

But even here the story is now beginning to change. Transformative innovations that characterise today’s coal value chain, from mining to burning, are evidence-based proof that coal is a genuine partner with renewables on the path to a cleaner environment.

But what is it that the Federal Government, driven by eco-extremists, cannot come to terms with as it faces the energy crisis engulfing Australia’s east coast?

Having failed to deliver its promised $275 reduction in electricity prices and now proposing to force suppliers to give consumers three hours of free electricity each day, it still denies one absolute fact: coal keeps the lights on for Australians.

Coal doesn’t just power the nation, it funds it. The industry provides the massive royalties that sustain essential public services. In Queensland alone, coal royalties have delivered $31 billion over the last three years.

Nationally, coal exports were worth $91.4 billion in 2023–24 and supported more than 170,000 direct and indirect jobs.

Yet the same government quietly pockets those billions while pursuing the fantasy of a renewables-only future, an ideology long out of step with global reality. Around the world, governments now recognise that energy affordability and security must sit alongside climate goals.

Global strategists like McKinsey now concede that coal will remain central to global energy systems well into 2050. But as other countries move ahead with innovation and abatement, Australia is being left behind by the very countries that once followed its lead.

Last year, I wrote that “Australia stagnates while the rest of the world innovates.”

Returning home now, I can say with certainty that the gap has only grown wider.

Over the past year, I’ve travelled through the world’s key coal markets - China, India, ASEAN, the United States, and South Africa.

In every one of these nations, coal is being redefined through innovation and technology, guided by governments that understand sustainability must begin with the ability to sustain.

Nowhere was that lesson clearer than when I left Australia and travelled to China. China leads not only in renewables, hydrogen, and chemicals, but also in coal innovation. From the world’s largest carbon capture and storage facility on a coal plant, to industrial-scale coal-to-hydrogen and coal-to-chemicals projects, China demonstrates what’s possible when technology and policy align.

Yet Australia continues to recycle the same outdated debates, blind to coal’s evolving potential - its role in powering economies, sustaining jobs, and advancing low-emission technologies.

Even some of the world’s most influential voices are shifting their perspective. Bill Gates, the Microsoft co-founder and leading philanthropist, recently wrote that it is time to put “human welfare at the centre of climate

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strategies” - to focus on improving lives rather than chasing short-term emissions targets.

years, climbing from around $20 billion today and adding roughly $600 to the average household bill.

“When the climate debate becomes driven by doomsday thinking,” Gates said, “it diverts attention and resources from the most effective things we can do to improve life in a warming world.”

Across mainland Europe, soaring energy prices have forced governments to reopen coal plants and reconsider the pace of renewables-only strategies. What was once hailed as progress is now being recognised for what it is - overreach.

That sentiment reflects the same principles that guide FutureCoal, a commitment to innovation, stewardship, and practical solutions that balance environmental responsibility with human progress.

Energy is the lifeblood of economic growth and human advancement. Across the world, nations are recognising this truth and acting on it.

So, ‘what is it that Australia knows that other countries do not?’ Or should the question be ‘what is it that other countries know that Australia does not?’

• India is investing A$1.5 billion in coal gasification to strengthen energy independence and industrial growth.

• Japan operates one of the world’s most efficient coal fleets while pioneering the use of coal with hydrogen and ammonia, even proving that hydrogen can be shipped by sea.

• The United States, once turning away from coal, is now investing nearly A$1 billion to modernise plants and expand research into coal-to-critical minerals, carbon fibre and graphene, recognising coal not only as an energy source but as a platform for advanced materials industries.

Will Australia learn that lesson? Is ‘sorry’ the hardest word to say in politics?

Here at home, a new narrative is beginning to surface as ideological puritanism starts to fracture under the weight of real-world experience.

As The Wall Street Journal recently noted, uneven subsidies for renewables have distorted energy markets and pushed reliable generation offline, leaving grids fragile, weather-dependent, and unable to meet demand.

Does any of that resonate with the Australian experience?

The new reckoning is now unfolding in the financial world. The once-celebrated Net Zero Banking Alliance has quietly retreated, and the Net Zero Asset Managers Initiative, representing nearly $135 trillion in assets, has been suspended. These developments confirm what we at FutureCoal have said all along: exclusionary finance is not always sustainable or pragmatic finance.

Investors are rediscovering what developing and industrial nations have always known, that genuine environmental progress must go handin-hand with stable economic growth underpinned by energy security.

Policies like the Safeguard Mechanism risk turning Australia into a spectator to the very industry that helped build the nation, exporting what it is too afraid to use while importing the consequences of its own uncertainty.

At FutureCoal, our mantra has always been clear: it’s about phasing out emissions, not phasing out the fuel itself, a distinction that is crucial for any sustainable and effective environmental approach.

Those of us across the coal value chain must continue to drive awareness of this new narrative, of SCS, and the opportunities it creates for Australia’s economy, energy security, and technological leadership.

Australia must not let Donald Horne’s words from sixty years ago become true again. He called Australia “the lucky country” lamenting, ironically, that it was “a second-rate nation built on luck, not innovation or ambition.”

Coal has a proven track record of innovation. It has never relied on luck, only on hard work, ingenuity, and progress. 

Australia, with its vast reserves, research That is precisely what FutureCoal’s Sustainable Coal Stewardship (SCS) capability and technical framework seeks to achieve. expertise, is perfectly SCS houses proven technologies including high-efficiency, low-emission positioned to lead the (HELE) power plants, carbon capture But there are some who share Australia’s next phase of coal and storage (CCS), coal-to-hydrogen energy delusion and the painful effects and coal-to-chemicals (such as ammonia of rushed and poorly planned transitions. innovation. Instead, it and plastics), responsible mining, and the In April, Spain and Portugal suffered production of advanced carbon materials continues to debate widespread blackouts as grid stability like carbon fibre and graphene. collapsed. whether coal should Australia, with its vast reserves, research In Britain, so-called ‘green levies’, once capability and technical expertise, is exist at all. promised to cut household bills, are perfectly positioned to lead the next • Germany, once the poster child for coal phase-out, has delayed plant closures after shutting its civil nuclear fleet, protecting its citizens and industries from energy insecurity and the infamous Dunkelflaute — the ‘dark wind lull.’

now doing the opposite. The Office for Budget Responsibility projects these charges will rise by 50% within five 36

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phase of coal innovation. Instead, it continues to debate whether coal should exist at all.

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Growth and diversification: Supplying steelmaking raw materials and critical minerals Matt Latimore, Founder and President M Resources

S

trategic planning for Australian resources requires clear-eyed analysis of both near-term market dynamics and longterm structural shifts. Over the next three decades, government industrial policy in China and India will determine the trajectory of metallurgical coal demand, while critical minerals increasingly drive investment decisions beyond that horizon.

This analysis examines the speed, direction and practical constraints of these changes in China and India, and what they mean for Australian steelmaking coal and critical minerals demand through to 2050.

The short to medium term The government policies of China and India, the world’s two largest steelmakers, are likely to be the most significant drivers of both the speed and direction of travel of the Australian resources sector over this period.

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In both China and India, governments are taking a key role in deciding production capacity, method of steelmaking, and the types and quality of steel being produced.

China China produces over 1 billion tonnes of crude steel annually, around 54% of global production. At present, according to reports, around 85 to 90% of this is made using Blast Furnace-Basic Oxygen Furnace technology, using metallurgical coal.

Those watching the Chinese steel market know the Chinese Government’s view that self-reliance in steel production, including the use of scrap, will place the country in a better position with respect to its national strategic interests. Their Government is also seeking to reduce emissions to improve the country’s overall environment and standard of living.

Consistent with this, in August this year, the Chinese Government released its 'Two-Year Work Plan for Stabilising Growth in the Steel Industry', which sets a new target for 30% of its steel production to be from electric arc furnace by 2035.

China’s 15th Five-Year Plan was also released recently. The plan sets the national agenda for economic decision-makers across large-scale and long-term policy objectives. Key

takeaways of the plan are a continued focus on technological development and self-reliance (for example in semiconductor chips), while building a “modern industrial system with advanced manufacturing as the backbone" and accelerating "high-level scientific and technological self-reliance."

In the real economy the Chinese government wishes to reduce its reliance on property construction to drive economic development by reorienting the economy to domestic consumption, and higher quality, more advanced manufacturing exports. This will decrease steel consumption intensity domestically, in turn requiring less steel production.

As their steel production diminishes, metallurgical coal use will also reduce.

In the initial phases of this adjustment, our expectation is that this reduction will result in the closure of higher-cost domestic mining operations as they are not competitive compared to the seaborne market. The result is likely to be that reduced consumption of steelmaking coal in China won’t disrupt the country’s demand for seaborne coal.

As the Work Plan progresses, efforts will be made to increase China's production of steel made using renewable electricity and scrap steel. However, significant time, resources and investment will be required to build the new plant and

Investment and global markets

Image: Komatsu

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infrastructure required for Electric Arc Furnace (EAF) and Direct Reduced Iron (DRI) steel production and for processing scrap steel. While the determination of the Chinese government and industry is well known, reaching 30% electric arc furnace steel production is a complex and exceedingly difficult challenge.

According to some reports, the Government’s workplan may already be 5% behind on its 2025 target for EAF uptake.

At the same time there are two key factors which create an incentive for China to maintain its existing use of blast furnaces for steel production.

The government’s latest five-year plan emphasises a strong manufacturing sector, and China's massive installed base of blast furnaces.

Both these factors signal a continued reliance by Chinese steel mills on metallurgical coal across the next 10 to 20 years.

India India is experiencing a resurgence in dynamism, optimism and economic development, which many see as a parallel to the country’s Golden Age under the Gupta Empire during the fourth, fifth and sixth centuries.

Key to the Indian Government’s economic strategy is massive growth in steel production. This was a top talking point of business leaders and government officials during Premier Crisafulli’s inaugural Trade Mission to India, which I was pleased to attend.

India’s Government has targeted production of 300 million tonnes by 2030, which is an increase from current production of around 50%. By 2047, their Government has said the country will increase its annual steel production capacity to 500 million tonnes.

Image: Liebherr

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India’s fleet of blast furnaces are relatively young, with an operational life of 20 to 25 years, while nearly all of the new steel mills currently planned or under construction - which are being built to support increased capacity targets - will also be blast furnaces. Given a lack of domestic

sources of metallurgical coal, imported coal will be required to support the country's production increases, much of it from Australia.

Importantly, India is also making significant strides to reduce its emissions. By the end of this decade, the country aims to generate 500 gigawatts of clean energy - enough to power approximately 300 million homes - and has installed around 100 gigawatts of solar energy over the past decade. To place this in context, Australia’s total peak energy demand is only 35 to 40 gigawatts.

Implications for future demand for steelmaking coal Firstly, government policy will continue to have an outsized influence on the levels of steel production from the world’s top two steel producers, China and India.

Secondly, while China will make the move towards ‘green’ steel, these steelmaking methods are likely to result in a higher-cost product. The country’s transition to production of steel using renewable energy may take time and add expense – particularly given the country’s desire to maintain its position in manufacturing.

Thirdly, India’s rapid expansion in steel production capacity is likely to rely on blast furnace technology.

Indeed, given the planned rate of growth in production capacity, India’s metallurgical coal demand, sourced from seaborne trade, may make up for, or even exceed, any reduced demand stemming from the Chinese Government’s industrial policy initiatives.

The long term In contrast to the short to mediumterm outlook, the long-term horizon is likely to be influenced by a different set of resources and commodities.

The future of resource project investments will lean towards critical minerals and rare earths. Over the next 20 to 30 years, we see a very bright future for Australian resources to support global supply chains requiring these minerals.

Australia is uniquely endowed with a range of rare earth minerals which are central to many technologies at the centre of our daily lives, such as smartphones, touchscreens and EVs. They are also important for certain hightech applications like lasers, computers, fibre optics and defence.

We are working to investigate and explore new sources of these minerals while also investing in Australian companies to help them to prove and develop their own reserves. We look forward to bringing more of these incredibly important minerals to market.

It is also important to build and strengthen the capital pool available for critical minerals and rare earths projects.

The government policies of China and India, the world’s two largest steelmakers, We welcome the recent $13 billion investment in critical minerals, recently are likely to be the agreed between President Trump and most significant Prime Minister Albanese. The agreement underscores the global momentum drivers of both the and strategic alignment necessary to increase and accelerate the production speed and direction of of critical minerals, and confirms we are on the right track. travel of the Australian As the world progresses toward a lowresources sector. carbon future, Australian resources An Australia-focused fund will increase our production of these resources, and also the refining facilities that will enable our resources to plug into global supply chains across North Asia, North America and Europe.

will not only fuel the steel that builds tomorrow’s global infrastructure but also supply the critical minerals that power the technologies of the next generation while cementing Australia’s role at the heart of global progress. 

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Risk, Investment technology and global and innovation markets

Critical minerals, including vanadium, copper and graphite, used in electric motors, energy storage and energy transmission, will all experience increased demand and probably a lag in the production required to meet this demand.

Coal’s enduring value in a shifting global landscape Paul Flynn, Managing Director and Chief Executive Officer WHITEHAVEN COAL

I

t is often said there’s rarely a dull moment in the coal industry, and 2025 proved no exception.

Global trade uncertainty, domestic policy dynamics, persistent cost pressures, and cyclical market softness shaped a challenging year for operators.

The coal industry is resilient, and throughout this period our high-quality coal continued to help power economic growth, build industries, support local communities and deliver value across the world.

Recent data shows that Queensland’s coal industry injected $25.7 billion into the local economy in 2023-24 while supporting over 7,500 local businesses through the purchase of goods and services. For us at Whitehaven, we proudly invested more than $2 billion across our North West New South Wales and Central Queensland regional communities over the last year via procurement, salaries and wages, and community partnerships and donations.

It is clear that the mining industry delivers so much of Australia’s economic prosperity and resilience, particularly in our regions, but unfortunately, we’re 42

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seeing governments increasingly take this contribution for granted.

At a state level, the Queensland royalty regime continues to deprive the industry of the capital we rely upon to sustain existing operations and invest in new growth and new jobs.

Nationally, the Federal Government’s emissions reduction approach is placing growing pressure on a range of tradeexposed sectors like ours that have been fundamental to Australia’s prosperity for decades.

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

As an industry, we also have a role to play to ensure we are part of this conversation. It’s been encouraging to see the industry work together to have its say on important issues throughout the last year but there’s still more to do.

Our voice matters, and it’s appropriate that we continue to highlight the potential implications of these policies.

Balancing decarbonisation with economic and energy security Decarbonisation and the energy transition continue to feature prominently in policy discussions at all levels of government, both here and abroad.

As a responsible operator, Whitehaven is committed to balancing the critical role our coal plays in energy security and

economic development across Asia with the need for global emissions reduction efforts. We support the Paris Agreement and decarbonisation, but we are also realistic about the inherent economic and technical challenges that will continue to constrain global efforts.

We maintain the view that Australia (and the world) are still a long way from achieving their decarbonisation goals, and both the pace and scale of the global transition to lower-carbon economies remain subject to considerable uncertainty. The scale of the task and its significant cost are driving much of this uncertainty and challenge, and the introduction of more ambitious targets will only heighten these issues.

The announcement of the Federal Government’s 62-70% 2035 emissions reduction target in September will require the rapid acceleration of existing efforts and the equally timely development of new initiatives.

This comes at a time when the escalating crisis over energy security and affordability is already threatening Australia’s heavy industries, highlighted by several government bailouts in the manufacturing sector. Perhaps the highest profile is the possible closure of the Tomago aluminium smelter, with the company recently noting future energy prices were not commercially viable and there was significant uncertainty about when renewable energy projects would be available at the scale needed.

Emissions reduction of the magnitude proposed under the federal government’s new 2035 targets will require significant investment and sacrifice at a market level across a wide range of industries that have been critical to Australia’s prosperity for decades, including hardto-abate sectors such as resources, transport, construction, agriculture, and other primary industries.

As our industry knows all too well, in many cases, abatement initiatives are not yet technically or commercially viable, and the additional emissions reduction requirements are adding further cost measures that make Australian businesses less productive and harm our international competitiveness.

Ensuring Australian industry remains internationally competitive International progress on decarbonisation is fragmenting due to diverging climate change policy responses and the rebalancing of priorities that has seen energy security and economic development given due consideration over aggressive decarbonisation measures. The more pragmatic approaches increasingly being taken by some of the world’s largest economies put Australia at odds with many of our peers and competitors in the resources industry, as well as our major trading partners and consumers of our products in the Asia-Pacific such as Japan, China, India and the United States.

While this doesn’t preclude Australia from playing its part, it serves as a reminder that we must not sacrifice our natural advantages in the process.

Australia has enjoyed decades of prosperity, underpinned by a worldleading resources sector and access to cheap, abundant energy that fuels our economic growth.

Australia remains a resources-based economy today. Over the past decade, the mining industry generated 21% of the economy’s growth while contributing to $2.9 trillion in resources export revenue, $268 billion in mining wages, $227.5 billion in company taxes, and $167 billion in royalties.

Coal has long been at the heart of this significant contribution. As an abundant, affordable and reliable fuel source, Australia’s high-quality coal has a longterm role to play in the global transition to a lower-carbon future.

Despite many predictions that fossil fuels would be replaced by renewables, the reality of the current energy transition at a global level makes it more of an energy addition – with new renewables capacity supplementing a continued reliance on fossil fuels as global demand grows. Indeed, global coal demand increased by 1.5% in 2024, reaching a new all-time record of 8.77 billion tonnes. Its versatility as a fuel for electricity generation, combined with its critical role in steelmaking, underscores its importance as a critical resource for both energy security and industrial development.

This is not going to change any time soon.

Unfortunately, Australia’s domestic policy settings and decarbonisation goals are too commonly set in isolation, with insufficient regard being paid to other priorities like economic growth and energy security – challenges that are amplified by rising global tensions. It is abundantly clear that there is not one energy transition but several, happening in different parts of the world at different speeds, with different fuel types, technologies and national priorities.

We must also accept that no matter what target we set – and regardless of whether we’re successful in meeting it or not – Australia’s emissions reduction efforts will not determine whether the world limits global temperature rises.

Collectively, China, India and the US account for more than half of global emissions and they will largely shape the path the world takes. It is telling that these major economies have made it clear economic and energy security are the immediate priority.

We recognise the need for progress on decarbonisation but in Australia we must become less preoccupied with managing the optics of the transition and focus more on the costs and impacts of policies, including the limitations of emission reduction initiatives and the impact rapid decarbonisation efforts are having on Australian industries, communities and families.

Working together to push for a sustainable royalty regime The Queensland royalty regime has received plenty of airtime this year but it’s a topic that warrants ongoing attention because it remains fundamental to the future viability and success of the coal industry in Queensland.

Parallels can be drawn between the damaging consequences of the Queensland Government’s royalty regime for the coal industry and the impacts of the aforementioned federal emissions reduction policies on electricity prices and the manufacturing sector.

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

In both instances, domestic policies are driving up costs, hurting Australia’s international competitiveness, and putting local jobs at risk. Unfortunately, we have already seen job losses in both industries in recent months and unless there’s a course correction soon, the fallout will continue to spread.

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Investment and global markets

The next phase of the transition will be even more difficult here and abroad.

Australia has already picked off much of the low-hanging fruit when it comes to individual and household-level emissions reduction initiatives. Billions of dollars in government subsidies have helped position the country as a leader in the adoption of rooftop solar; yet, this wave of growth is slowing, and its capacity to drive deeper, economy-wide emissions reductions is limited. Similarly, the recent surge in the uptake of home batteries has no doubt been welcomed by those who can afford it (thanks in large part to further government subsidies), but again, it does not address the significant security and affordability issues that are impacting Australia’s broader energy market.

Of course, coal companies should pay their fair share, but the Queensland royalty regime in its current form is unsustainable.

It’s not just impacting mining jobs but also the communities and local businesses connected to our industry.

The Queensland coal sector supports nearly 400,000 direct and indirect jobs across the state – whether it’s local businesses in the Bowen Basin, FIFO workers in Brisbane, or regional suppliers in towns like Mackay and Rockhampton.

The entire value chain is feeling the strain of this punitive regime and it is important that we’re all part of the conversation.

At Whitehaven, we have engaged with the Queensland Government directly on this issue and we’ve also made our position very clear in public commentary.

We will continue to advocate for a sustainable solution that secures the future of the Queensland coal industry and protects our workforce, suppliers and the regional communities where we operate and where our employees live.

I must commend the Bowen Basin Mining Club, as well as our peers and other industry groups, for the work being done to advocate on this issue.

We are presenting a united front and it’s important we continue to work together to push for a sustainable solution that protects our industry.

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

2025 has been a defining year for Whitehaven, marked by our successful entry into the Bowen Basin and the completion of our first full year of operations at Blackwater and Daunia.

Our business has evolved and diversified, with our production roughly doubling thanks to the addition of our Queensland operations. We’ve also gained access to new and critical market segments across Asia where demand for both metallurgical and thermal coal will remain strong for decades to come.

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Our first year of operation in Queensland was strong from an operational perspective, with both Blackwater and Daunia achieving site production records and making substantial contributions to the business.

We’re proud to be building lasting relationships with stakeholders across the Bowen Basin. We hit the ground running in FY25, spending $1.4 billion with suppliers in regional Queensland and contributing around $500,000 in partnerships and donations to Queensland community groups and organisations. Our Community Grants Program will continue to evolve and grow, and we look forward to extending the reach of our support in years to come.

Importantly, our first year of operation in Queensland was strong from an operational perspective, with both Blackwater and Daunia achieving site production records and making substantial contributions to the business.

Looking ahead, the outlook is positive with supply-demand dynamics expected to become increasingly favourable.

Commodity Insights is forecasting that a 61Mt structural supply gap will emerge in the seaborne metallurgical coal market out to 2040, as demand grows and supply tightens due to large mines reaching their end of mine-life, coupled with underinvestment in development projects.

With few economically viable alternatives to conventional integrated steelmaking technology, metallurgical coal continues to be used to make 72% of the world’s steel. Countries like Japan, India and China rely on Queensland’s coal and these powerful and important strategic partnerships will continue for decades to come as millions of tonnes of steel are produced each year to support urbanisation and infrastructure investment.

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 continuing to work together to advocate for policy settings that enable and encourage further investment.

While the industry’s resilience is being tested now, the coming decades hold significant potential for growth and opportunity, and we remain well-placed to capitalise on the enduring demand for our products. 

Mining and Mineral Processing

UG Thermal Coal, Central QLD

Green/Brownfield Construction and Expansion

UG Metallurgical Coal, Central QLD

Mining Contractors and Professional Consultants

Open Cut Metallurgical Coal, Central QLD

ESG impact management and advice

C&M to Production UG Thermal Coal, NSW

Complex claims management and advocacy

Open Cut Thermal Coal, NSW

Captive establishment and management

Multiple OC/UG mining projects across Australia

Policy drafting and compliance

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Breaking the bank: The rise and rise of alternative capital Nick Rees, Co-Founder and Managing Director Bridgend Capital Advisory

A

cross the long arc of human history, mining and the broader extractive industries have played a foundational role in the development of civilisation.

Few other pursuits have shaped human progress so profoundly.

From the earliest chipped stone tools of the Neolithic flint quarries, to the copper and tin workings that fed Bronze Age foundries, to the shallow underground gold mines of Nubia in Ancient Egypt, and to the first large-scale coal mining that powered Britain’s Industrial Revolution, human progress has traced the advance of mining, and the discovery and exploitation of the world’s natural resources.

Image: Liebherr

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This remains true today. Everything around us – if not grown – is derived from mining: the fuels that power industries and transport networks; the iron ore and metallurgical coal

that become steel for buildings, vehicles and infrastructure; the fertilizer minerals that enable global food production; the copper in pipes, wiring and electric motors; the aluminium in window frames and aircraft; the silica sand in glassmaking; the bitumen on our roads; and increasingly the metals and minerals necessary for new technologies that herald transition to a lower carbon future. The extractive industries continue to be both a driver and an enabler of global development and economic prosperity.

Global demand for raw materials Despite occasional claims that mining represents the ‘old economy’ or an industry ‘in decline’, global consumption of commodities has never been higher. Demand will continue rising in the decades ahead, driven by population growth, continuing urbanisation and industrialisation in developing countries, rising living standards and demand from new technologies required for artificial intelligence and energy transition.

The UN’s 2024 World Population Prospects report projects global population to grow by 2.1 billion people, peaking at 9.7 billion in the 2080s, up from only 1.6 billion at the dawn of the 20th century. This represents a vast number of people to feed, house, heat, cool, power, transport and connect.

The 2024 Global Resources Outlook from the UN’s International Resource Panel reports that raw material use has tripled over the past 50 years. Without decisive action, total consumption is projected to rise another 60%,

A 2021 report on The Role of Critical Minerals in Clean Energy Transitions

by The International Energy Agency estimates that demand for minerals supporting electrification and decarbonisation, such as lithium, graphite, cobalt, nickel, copper and aluminium, must quadruple between 2020 and 2040 to meet net-zero targets.

For resource-rich countries such as Australia, this presents meaningful opportunity, but also challenges around competitiveness, approvals, sustainable development, supply chain reliability and, critically, access to capital.

Availability of capital In EY’s latest global survey of mining leaders, access to capital ranks third among the most pressing risks facing the industry. In this context, ‘capital’ refers specifically to financial capital – the economic resources deployed for the acquisition, development or operation of an asset or business to derive an economic return.

While traditionally categorised simply as debt or equity, modern capital markets encompass a much broader spectrum of capital, including hybrids, convertibles, royalties, streams and prepayments that share attributes of both debt and equity.

Capital-intensive industry Mining is inherently capitalintensive. Whether engaged in early-stage exploration, developing new mines and associated infrastructure,

expanding operations, or pursuing growth through acquisitions, capital is the lifeblood that makes activity possible. Without it, discoveries are not made, mine development stalls, jobs disappear and economic output slows.

To meet projected global materials demand will require massive capital deployment globally. BloombergNEF’s Transition Metals Outlook 2024 estimates the world will require more than US$2.1 trillion in new mining investment by 2050 to meet the demands of net-zero alone.

Mining companies can meet capital needs in three broad ways: 1. Reducing capital requirements. This includes productivity improvements, capital deferral, outsourcing (such as use of mining contractors), operating cost reductions and working capital optimisation.

2. Generating internal capital. This includes retained earnings and asset recycling through divestments of non-core assets or sell-downs of joint venture interests. These remain important sources of funding for many miners.

3. Raising external capital.

This is where the capital landscape has changed most dramatically in recent decades.

Investment and global markets

from 100 billion tonnes in 2020 to 160 billion tonnes by 2060. Material intensity is expected to decline, yet total usage will continue to grow faster than efficiency gains.

Above all, effective capital strategies in the years ahead will rely on partnerships – with governments, private capital, strategic investors, traders, end-users and equipment manufacturers.

Raising external capital For much of Australia’s mining history, external funding followed a simple and predictable pattern: equity from public markets, bank debt from domestic lenders and, at times, government investment in enabling infrastructure. This model supported transformational growth across the industry.

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Image: Turnbull Photography

A powerful example comes from Queensland’s coal sector in the late 1960s, when Utah International and Mitsubishi Corporation established Central Queensland Coal Associates and secured rights to develop Blackwater, Goonyella, Saraji and Norwich Park.

Queensland Government support for rail lines, ports, power stations, water pipelines and even new townships was instrumental. Cabinet papers from the time show commendable government foresight, despite facing considerable debate and criticism.

Today’s funding environment is vastly more complex. Traditional sources still dominate, but the straightforward approach of previous decades has given way to a wider array of providers and financial instruments. Many are unique to the mining industry – such as streams and offtake financing – while others reflect global capital market trends.

This winning formula set the foundation for the rapid growth of Australia’s mining and processing industry through the 1960s, 70s and 80s, and again during the last ‘mining boom’ from 2005– 2015, when Australia’s major banks played a critical role. Their combined exposure to resources more than doubled, from A$29.5 billion in 2012 to a peak exceeding A$64 billion by 2015.

3. Strategic partners

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Broadly, non-traditional or alternative capital sources fall into three categories: 1. Government-related capital sources 2. Private capital channels 1. Government-related capital sources Governments – through State Owned Enterprises (SOEs), Sovereign Wealth Funds (SWFs) and state-backed financial institutions – remain among the largest capital providers in global commodity markets.

State-owned enterprises SOEs such as Saudi Aramco, Codelco, Equinor, Sinopec, Shenhua, Gazprom, Petrobras and ADNOC hold massive balance sheets and are deeply influential in global mining and energy markets. After the postCold War era of privatisation and globalisation, state capitalism is now resurgent around the world. China, for example, has relied heavily on SOEs for industrial development, while Western governments have renewed their focus on supply chain sovereignty, energy security and strategic materials.

Sovereign wealth funds SWFs, which manage national savings from fiscal surpluses, commodity revenues and foreign exchange reserves, have become critical participants in global capital markets.

Funds such as Norway’s Government Pension Fund, Singapore’s Temasek and GIC, China Investment

Investment and global markets

Corporation, the Abu Dhabi Investment Authority and Australia’s Future Fund collectively manage US$13–14 trillion in assets according to research from Christopher Sanchez & Co, with sovereign pension funds accounting for a further US$5 trillion.

This is an increasingly important source of capital, especially for long-duration real assets, including mining and infrastructure linked to critical minerals and energy transition.

State-backed financial institutions Export Credit Agencies, Development Finance Institutions (DFIs), Development Banks, National Investment Funds and Multi-lateral Agencies support new mining developments and commodity exports through provision of debt, equity and credit support – particularly in emerging markets and regions with heightened political risks. Examples include Australia’s Export Finance

Australia, Northern Australian Infrastructure Facility (NAIF) and National Reconstruction Fund, Queensland’s Critical Minerals and Battery Technology Fund, US Exim Bank, Export Development Canada, Japan’s NEXI and JBIC, China Exim, International Finance Corporation, the Multilateral Investment Guarantee Agency and the Asian Development Bank.

Many state-backed institutions are now explicitly targeting projects that support energy transition and critical minerals supply chains. Recent announcements from US Exim and Australian government financing bodies reflect this coordinated push.

By contrast, current federal and state policy settings in Australia mean that coal projects no longer receive financing from these institutions – the last major example being NAIF’s participation in the Olive Downs construction financing.

Other government support Governments also support resource development through: • Pre-competitive geoscience programs, such as Geoscience Australia’s A$225 million Exploring for the Future initiative from 2016 – 2024.

• Co-funding exploration, including Queensland’s Collaborative Exploration Initiative (CEI), which helps junior explorers advance earlier-stage prospects.

2. Private capital channels Private capital has expanded dramatically over the past two decades, offering alternatives to public markets and traditional banks. Three sources are particularly relevant to mining.

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Private equity Private equity is an alternative investment class that invests directly in private companies or acquires public companies for the purpose of taking them private.

According to Bain & Company’s Global Private Equity Report 2024, Global private equity and venture capital funds now hold a record US$2.62 trillion of uncommitted capital (‘dry powder’).

While private equity involvement in mining has lagged other industries, this has shifted with the rise of specialist resource funds including EMG, Denham Capital, EMR Capital, Resource Capital Funds, Taurus and Pacific Road Capital, actively targeting battery supply chain and transition-related investments. Private equity has also been increasingly visible in Australia’s coal sector, supporting investments at Foxleigh (Taurus), Curragh (EMG), Kestrel (EMR Capital) and Olive Downs (Denham).

Royalty and streaming companies Royalty and streaming finance has become a major force, particularly in North America.

These structures involve the upfront purchase of rights to a share of future production, revenue or profits. For miners, they can reduce equity dilution and avoid restrictive debt covenants; for investors, they provide commodity exposure with lower operational risk. Market leaders such as Wheaton Precious Metals, Franco-Nevada and Royal Gold now boast market capitalisations rivalling or exceeding many mid-tier miners.

However, poorly structured arrangements can be costly over the long term and complicate later financing.

Private credit Private credit has grown from a niche market into a US$2 trillion global asset class and is forecast to reach US$3 trillion in coming years. Dedicated resources lenders – such as Taurus, Orion, Sprott, Nebari, Appian and RK Mine Finance – provide project development funding, acquisition finance, expansion capital and working capital solutions. With commercial banks retreating from coal lending, private credit has become essential to large transactions in the coal sector, including Stanmore Resources’ acquisition of BHP Mitsui Coal and Whitehaven’s purchase of Blackwater and Daunia from BMA. 3. Strategic partners Image: Turnbull Photography

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Strategic partners invest for reasons that extend beyond pure financial returns. Support can take many forms across the capital spectrum, but

Joint ventures Joint ventures have long been a mainstay of the resources industry.

Selling a stake in a project can provide significant non-dilutive capital, mitigate risk and bring valuable technical or operational expertise. For juniors, partnering with a mid-tier or major can also validate project quality and accelerate development. JVs are also increasingly common in exploration, with majors supporting juniors through farm-ins, options, equity investments and accelerator programs such as BHP’s Xplor.

Commodity traders and end-users Traders such as Glencore and Trafigura provide capital in diverse forms – equity, subordinated debt, project finance, prepayments and rehabilitation bonding – in exchange for offtake and marketing rights. The commercial incentives allow them to assume risks that traditional lenders may not. End-users, including

steel mills and power utilities, have historically invested directly in mining projects to secure long-term supply.

Even automotive manufacturers are now investing in mining projects to firmup critical minerals supply chains for electric vehicles.

Equipment manufacturers Major equipment suppliers – including Caterpillar, Komatsu, Hitachi, Sandvik, Epiroc and Liebherr – support miners through equipment financing via their captive finance arms, and in some cases, may participate alongside banks in project financings. Their strategic objective is to support equipment sales and strengthen long-term customer relationships. In the Australian coal industry, equipment financing remains a widely used and cost-effective capital source.

Conclusion Meeting the world’s future resource needs – driven by population growth, rising living standards and energy transition – will require unprecedented investment.

Capital will come from a wider range of sources that create options and opportunities but also add complexity.

Success now demands a deep understanding of the motivations, constraints and expectations of each capital provider, together with expert advice. Miners must balance financing outcomes with broader strategic and non-financial considerations, navigate intercreditor dynamics and structure capital in ways that support both near-term requirements and long-term sustainability.

Above all, effective capital strategies in the years ahead will rely on partnerships – with governments, private capital, strategic investors, traders, end-users and equipment manufacturers. Those who adapt to the shifting capital landscape and embrace innovative funding models will be best positioned to unlock the next wave of resource development that meets the world’s growing demand for commodities. 

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Investment and global markets

the common element is a clear strategic purpose.

Ownership trends reshaping the coal industry Jason Economidis, Managing Director AURA Mining

W

hen I began my career in the Bowen Basin in the ‘80s, the industry was characterised by the major mining houses operating pits across the region as part of their broad portfolios of multi-commodity operations. Many partnered with Japanese customers to form joint ventures and capital was plentiful.

Government legislation required the establishment and operation of towns but otherwise it was a straightforward process.

It was also in an era where take-or-pay contracts underwrote investment in key infrastructure such as rail and port. This approach enabled an industry but would come back to haunt it in every downturn since.

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Fast forward nearly 40-odd years and we are now working in a very different sector, and accordingly, we need to act differently. This article is not an ode to the ‘good old days’, but rather some key reflections on the evolution of the industry and the opportunities the future brings.

The challenges facing the coal industry from external stakeholder forces are well-understood and known to this readership, but it is necessary to reflect on the changes and trends those external forces have driven.

As outlined by the International Energy Association (IEA), global demand for coal grew by 1.5% in 2024, reaching an all-time high that is likely to remain unchanged this year and next. This is a reassuring finding, that, despite the demonisation of coal as a commodity, it continues to be a crucial part of the energy mix. Our challenge is to ensure that the Australian coal industry remains safe, sustainable and competitive within the global marketplace. It is critical for the global approach to carbon intensity because it makes no sense to remove Australian coal that is needed for world demand, that actually is the best quality and, by default, produces the least emissions.

It is no secret that shareholder and investor backlash about coal have made it harder to be in the coal business. Many

of the well-known and listed companies have sold down their coal interests or exited the sector completely. Sectorwide, many institutions including financiers, insurers and superannuation and pension funds have made it harder to be in this business. It is not just owners that are feeling the pressure, but also the contractors and suppliers that work for them. All of this is playing out within the global context of the Paris agreement, locally, the Safeguard Mechanism and even more locally, the challenges of attracting and retaining great people who want to live and work in the Bowen Basin and those that want to work in this great industry.

As a result, we are seeing an unprecedented level of divestment and ownership changes across the sector and the emergence of many new players, often backed by private equity or foreign ownership. Typically, these new owners have a vastly different ownership model to that of the major players of the ‘90s – the long-life, Tier 1 asset model of investing for a positive net present value of a business has shifted to one of managing immediate and medium-term cash flows. With the prevalence of debt funding supporting many acquisitions, there is heightened focus on immediate returns, short-term return on capital and cost management, particularly at the bottom of the price cycle. Where previously, big companies invested based

Investment and global markets

on macro-economics and the structural strength of the commodity throughout the cycle, new entrants play a shorter game based on market volatility.

Similarly, when coal assets were part of a broader multi-commodity portfolio, operations were able to cross-subsidise capital or operational expenditure in response to different commodity pricing fluctuations. These protections, in many cases, have disappeared.

Image: Turnbull Photography

What does this mean for those of us working in the industry?

Financially, we need to focus on instilling cost management discipline and adhering to that throughout the price cycle. With the loss of cross-subsidisation, mines now need to be profitable in every year of the cycle, not just in the boom times.

Easier said than done, particularly in a ‘bust’ but if we are going to demonstrate returns on investment in a shortened timeframe, we have no option. Leaders also need to understand the full picture – where the funding is coming from, what ‘good’ looks like from an owners’ perspective, the debt covenants and requirements and what the hurdles are to securing increased capital. In short, every dollar needs to spent with an owner’s mindset and as if it was our own money.

How do we respond to the changing dynamics to ensure we have the best talent?

From a resourcing perspective, we need to think differently about attracting people to our industry. Where coal mines were part of a broader portfolio, attracting and retaining people was easier as career paths could extend to other states, countries, commodities, locations and the like. Whereas now coal mines are sole assets in a new owner’s portfolio, it becomes harder to offer a career path that has seen many miners progress through the ranks to run some of our biggest mining corporations.

However, our people have great opportunities to strengthen their skills and demonstrate value in the short term.

Different ownership structures bring different perspectives and encourage ‘out-of-the-box’, nimble decisionmaking heavily focused on commercial acumen.

There are also many new skills people can learn including sales and marketing, acquisitions and divestments, commercial skills, transition management, negotiation skills and many of the tasks that were historically completed by head offices.

We need to provide a different offering such as work-life balance and learning universal financial skills, so we remain attractive to new entrants and those who have opportunities elsewhere. There are only a few companies left who are considered large and diverse enough to offer broad career development.

In closing, we know the future of the coal industry is bright, we are proud to be a part of it and that’s not changing.

We also know that nothing stays the same, so the way we mine in 2026 is understandably different to the way we mined in 1988. With change comes opportunity. We are a resilient and proud industry, and we will find ways to flourish in the new environment - and have some fun along the way. 

Our people have great opportunities to strengthen their skills and demonstrate value in the short term.

Different ownership structures bring different perspectives and encourage outof-the-box, nimble decision-making.

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Image: Pure Gold Films & Thiess

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Investment and global markets

Balancing tradition and transition Sustaining Idemitsu's coal mining focus while advancing battery minerals investment Steve Kovac, CEO of Idemitsu Australia, discusses the company's strategic evolution from coal producer to diversified energy minerals company, during an interview at IMARC 2025 with the BBMC’s Jodie Currie.

Q: You stepped into the CEO role in Australia in 2020, right as we were going through some world challenges. The industry was facing market uncertainty and increasing pressure to decarbonise. What were your key priorities?

The first 12 months was very much about COVID. Survival of the business and the health and safety of our people was the focus. At the same time, we saw coal prices come down and there were market challenges.

Underlying that, and over the following couple of years, there was a big shift in the decarbonisation push, with substantial legislation and policy changes. We also had our Japanese parent commit to a net zero 2050 strategy.

That changed their focus on coal somewhat, and Idemitsu made the decision to sell the Ensham mine. Once we had navigated the pandemic, my focus was to conduct a strategic review of the Australian business, examining what we needed to build for 2030 and 2040, and then implement a program to achieve that.

Q: Five years on, how have those priorities shifted? What surprised you the most during this period?

Probably Idemitsu's willingness to invest into some new commodities and critical minerals. It was a long journey and they're very risk-averse, but we got there. In 2023 and 2024, we invested in vanadium, lithium and graphite projects across Australia and Canada, including Vecco Group, Critical Minerals Group and Graphinex. Those first three investments were made within six months of each other, so it was pretty quick.

The other thing that surprised me was the geopolitical impact of decisions happening outside of Australia. Something that looks really good one day can suddenly shift when China or the US makes an announcement. It changes the risk profile. Whilst that presents challenges, it also presents opportunities.

Q: Idemitsu has a long history in coal mining. How are you approaching the balance between tradition and transition?

We've got one coal operation now, Boggabri, and it is our only revenue-generating asset in Australia, so it's critical for our business. It's got a life out to 2036 and hopefully 2040, subject to approvals. And it's critical for our customers.

Our Japanese customers take 70% of our coal and they really rely on it for their energy and metallurgical coal for steelmaking. They're very concerned about losing that highquality coal supply from Australia. That's one of the big challenges we face, the way that governments are pushing back on exports. Most of our coal goes overseas to countries that need it for baseload energy. If we're not supplying it, someone else is.

Our Boggabri coal is very good quality. If you want to replace it with Indonesian coal, you need 43% more coal for the same energy. That means more production, more transport, and more carbon emissions. So it makes sense that we continue to supply coal from here.

Q: Let's talk about critical minerals and the new investments.

You've made bold moves with vanadium, lithium and graphite. What made those commodities stand out as being the right fit for Idemitsu's future?

When we did the strategic review, we were looking at where our best opportunity was to utilise the skills and capabilities we have here in Australia. Mining seemed logical, and batteryrelated critical minerals were the obvious choice.

Idemitsu has been an energy company for 120 years, so energy-related minerals made sense. Vanadium looked attractive because of vanadium redox flow batteries and the potential to solve renewable energy storage issues. Clearly, lithium is a crucial player for decarbonisation world-wide. And graphite is also key in lithium-ion batteries and EVs. Those commodities fit well with the Idemitsu philosophy and our skill set here in Australia.

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Q: You're working with Vecco Group to establish a vanadium battery supply chain in Australia for the US market. How significant is this for Australia's energy transition?

It's a model of where we can not only mine a resource and ship it overseas but also add value through the entire value chain.

Vecco and Critical Minerals Group are taking the resource in Julia Creek, mining it, processing it, and then manufacturing electrolyte for these batteries. That's the kind of thinking our industry needs. Yes, we're blessed with great resources, and they're the backbone of our economy, but we must add value throughout the entire chain, because that's where the bigger profits are, not just shipping the mineral off.

Q: Vanadium flow batteries are less well known than lithiumion. How do you see their role in broader energy storage?

They play different roles. Lithium is what you find in your phone, laptop, and EV, offering a smaller scale and higher energy density. Vanadium batteries are designed for larger scale and longer duration, excelling at about six hours of storage. If you want to connect a vanadium battery with a solar farm at a remote mine site, providing six, 10, or 12 hours of storage to transfer energy from day to evening, that's a really good solution.

Vanadium operates at room temperature, and there are no vanadium battery fires. The fires associated with lithium on grid-scale batteries are a major concern, and globally we're seeing a shift towards vanadium flow batteries.

We're installing a vanadium battery at our Boggabri mine site alongside our solar farm, which will be the largest in Australia.

We hope this will become a model for future deployment, especially for remote communities and mine sites currently reliant on diesel generation.

Q: What about the economics? Would vanadium flow batteries offset the connectivity issues and costs of connecting remote mine sites to the grid?

Absolutely, compared to building kilometres of power lines, vanadium batteries offer significant advantages. One key benefit is their immense longevity; the electrolyte can last 20 or 30 years. You can remove it, transfer it to another battery, and it keeps working without degrading. They're 99% reusable and recyclable. Currently, very little of lithium batteries is recyclable, especially not cost-effectively. Vanadium might have higher upfront costs, but it provides better long-term value when you consider its 20 to 30-year lifespan versus lithium's eight to ten years.

Q: Is the goal for Idemitsu to ultimately operate and produce vanadium, lithium and graphite alongside coal?

Ultimately, we're an operator. Idemitsu is not a trader in the same way as some other Japanese investors in Australian coal.

So yes, operating is a goal. We bring financial support, strategy, influence and relationships with customers and government, adding value as a strategic partner. At the end of the day, we'd like to operate. If the opportunity arises, then yes, we could be mining coal, vanadium, and graphite.

Q: That's a big shift from traditional mining operations. How do you convince stakeholders that coal and critical minerals can work together?

I think most people can accept that it's a logical step to be looking at diversification and ultimate transition at some point.

The communities and government stakeholders find it quite attractive.

I think the biggest challenge is actually our owners, because they're risk-averse. Because a lot of this is new technology or new minerals, and certainty around downstream demand isn't as well known, it's hard to convince them of ongoing investment.

But the story is playing out. We've seen recent announcements like Graphinex getting big support from the US Export-Import Bank. All of those things help make it look less risky, and I think that will flow into other critical minerals projects over the next 12 to 18 months.

Q: How can governments support the energy transition without threatening our key exports like coal?

It's pretty challenging. The reality is that we export most of what we produce. If we want to make a transition in our energy sources here in Australia, that's one decision. But I don't think we should use the same tools to manage that as we do for our export industry. The way we encourage this is through sensible policy positions. Queensland has been doing a good job of speeding up approvals. But at the federal level, the introduction of an EPA with approval authority adds another layer of risk. We've seen changes to carbon targets and safeguards that penalise our export industry. We need policies that don't exclude our export industry from global competitiveness, but still focus on the transition to cleaner energy that we want to achieve.

Q: Final question: if you had to make a bold prediction, what do you think we'll be talking about in 2035?

I'm optimistic. I'm really hopeful that we're talking about some awesome critical minerals businesses operating across Australia and that we're capturing value downstream through processing and manufacturing facilities related to that. I believe that would be excellent.

But I still expect a lot of coal to be happening in 2035, so I hope we haven't damaged ourselves too much to generate the revenue needed from that industry. 

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The future of the Bowen Basin

DELIVERING THE NEXT GENERATION OF PRODUCTIVITY. Over the past five years, Hitachi has proudly delivered more than 62 units of the EX5600-7 Backhoe mining excavators to leading mining operations across Australia.

These machines have become synonymous with reliability, performance, and productivity in the toughest conditions.

As we move into the new year, we are excited to welcome the new kid in the sandpit, the EX5600-7P. Building on the proven performance of the EX5600-7, the new ‘P’ variant takes productivity to the next level.

With a larger bucket capacity, increased engine power, and faster digging speeds, the EX5600-7P delivers up to 12 per cent higher productivity compared to the standard model.

At Hitachi, our commitment to you, our valued customers, remains unwavering. We will continue to support your operations with machinery that delivers safety, efficiency, and performance at the highest level.

Thank you for your continued loyalty and partnership.

Your success drives ours.

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Beyond performance, durability has also been re-engineered. The EX5600-7P introduces a reinforced mainframe, additional boom steel castings, and a new arm structure, all designed to extend service life and maximise machine uptime.

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Risk, risk, BBMC technology and technology and innovation innovation

Image: Komatsu

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Risk, technology and innovation

d

Why the next productivity gain in coal will come from faster data, not bigger equipment Christopher Clark, CEO and Executive Chairman RocketDNA

C

oal miners have delivered major productivity gains in the past few decades by increasing the scale and efficiency of equipment.

Larger fleets, improved utilisation and tighter haul cycles have lifted output across the industry. But those gains are now largely realised, and the scope for further improvement from physical scale and material improvements alone is limited.

The real constraints now lie in the speed and quality of operational information, not in equipment size. With global demand for coal expected to flatten out and operating costs steadily increasing, the industry must find new sources of productivity gains. These gains can come from smarter use of data and capturing more real-time data, using technology and software that is already available.

From bigger trucks to faster information Open-cut coal operations are complex, interdependent systems. What happens in one part of the mine quickly affects several others. When information moves slowly, reaches only a few people, or lives in siloed specialist tools, that interdependence becomes a source of friction.

One significant pressure point is spatial information: knowing where material is, where equipment is working, and how the pit changes each day.

Until recently, most real-time geospatial data on a site has been captured, interpreted and distributed by survey teams, often using older platforms that were never designed for broad, dayto-day use. As such, demand for this information was constrained by the capacity of one group and the limitations of their systems. When that constraint is removed, the demand turns out to be far larger than anyone expected.

This is why the next big productivity gains are more likely to come from reducing the gap between what happens on site and how quickly people can see and respond to it.

‘More data’ on its own is not the answer.

Most mines already generate large volumes of data. It’s only useful if it’s easy-to-use, relevant, and easily shared operational data that can be used by any

team at any time, not hidden away in specialised software with limited access or exorbitant licensing fees. When current visual and spatial information is available to operations, survey, environment, planning, supervisors and management at the same time, the mine starts each day from a common picture of reality. In effect, it becomes a visual operating system for the site.

Proof in practice: how one coal producer has adapted One large Australian coal producer provides a clear example of how this shift plays out in practice.

The BMA operation trialled an autonomous drone system to support the survey department. The initial goal was modest – to reduce the amount of time surveyors spent driving to do simple jobs in remote parts of the mine. If routine inspections and basic surface data could be captured automatically, surveyors could focus on higher-value tasks.

The technology delivered that outcome, but the more important change came once flights were scheduled and the data became predictable. Key areas were flown at consistent times, e.g.

360-degree panoramic images of the pit captured at first light every morning.

Each flight produced current imagery and surface models that anyone on site could access through a simple interface.

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Demand grew quickly. What began as roughly 20–30 flights per month increased to more than 200. That rise was not driven by the survey team alone. Operations teams used first-light imagery to see what had happened overnight before allocating people and equipment. Instead of spending the first hour driving out, talking through handover notes and comparing stories, they could get a quick visual view first, then have the same conversations with better information.

Mine managers reviewed the 360-degree panoramas to understand the state of the operation before morning meetings. Environmental teams could now request their own flights to inspect water bodies and rehabilitation areas after rain. Infrastructure owners realised they could use the system to inspect assets that would otherwise require a long round trip.

The underlying tasks were not new. Everyone needed that data; they just didn’t have a way of getting it on demand without requesting extra work from the busy survey team. Once they knew it was available and easy to access, people across the mine discovered more ways to use it.

How fast, shared data changes a coal operation The impact of this kind of change does not appear as one large, dramatic improvement. It shows up in the way everyday work becomes smoother and less reactive.

Morning planning is the most obvious example. With current imagery available before crews disperse, supervisors can see whether the site looks as expected. If a strip is behind, if an area has been missed, or if conditions have changed, 60

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they know before they leave the crib room. The follow-up conversations and in-person inspections still happen, but they start with more complete information about what is actually on the ground.

High-frequency decisions also improve. In coal, many of the most important calls rely on visual cues: top-of-coal exposure, waste progression, bench condition, stockpile shape and position. Capturing these more often means mismatches are caught earlier. Less time is spent reshuffling equipment or correcting errors that have already crept into the plan.

Survey workloads are reshaped rather than simply reduced. When they can hand off the more routine and repetitive tasks to automation, surveyors spend less time travelling and more time on skilled analysis and data work that adds the most value. The volume of useful data available to the operation increases, but the bottleneck of one team manually collecting it eases.

Safety effects follow from the same changes. Fewer unnecessary trips into active areas mean fewer opportunities for lightvehicle incidents. Regular visual coverage makes it easier to spot water accumulation, surface damage or other emerging hazards before they become critical. Environmental and compliance areas can be monitored more frequently without adding vehicle movements.

Image: Turnbull Photography

Realistic and achievable right now None of this depends on speculative technology. The BMA example shows this can be done using tools that are already available and in use.

As digital systems mature, mines will have access to more sources of operational data like equipment telemetry, fixed and mobile sensing, remote operating centres and more. The sites that will benefit most are those that already incorporate the use of timely, shared data into their day-today work, rather than treating it as an occasional reporting exercise.

For coal producers, the implication is straightforward.

Faster data does not replace experience or judgement. It supports both.

The next big productivity gains are unlikely to come from adding more trucks and bigger equipment. But they can come from reducing information lag across the operation and making fast access to timely data a priority for everyone working on the mine.  BBMC Yearbook 2025

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Taken individually, none of these improvements are transformative. But combined, the cumulative effect is enormous. Managers can make decisions earlier, with fewer blind spots. Less time is wasted recovering from avoidable mistakes, and less operational decisions need to be made based on informed assumptions. In an operation that is already physically efficient, that is where new productivity is found.

Hydrogen on demand

Practical steps towards cleaner, smarter mining Michael Jones, Managing Director Baralaba Coal

T

he resources sector stands at a defining crossroads, one where operational efficiency and environmental responsibility are parallel imperatives rather than competing priorities. We are operating in a world where expectations from regulators, investors, and communities alike are shifting. The call is clear that we must produce responsibly, reduce emissions and keep improving how we work.

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For the coal and broader resources sector, this creates a unique challenge and a rare opportunity. The challenge is to decarbonise operations without compromising productivity. The opportunity lies in technological innovation, offering practical and scalable solutions that enhance performance while reducing environmental impact.

At Baralaba, we’ve been asking a simple question, “How can we make existing systems cleaner, more efficient and more cost-effective right now?”

One promising answer is hydrogen. Not in the form of large-scale fuel conversion or storage infrastructure, but through a compact, intelligent system that works alongside the diesel engines already powering much of our industry.

We are currently trialling a ‘Hydrogen on Demand’ system, known as HYDI, in partnership with AAMG and its

Managing Director, Tim Guinea. The HYDI unit represents a practical innovation with potentially broad implications for mining.

Unlike stored hydrogen systems, HYDI generates hydrogen as it’s needed.

It uses distilled water and low-voltage power from the vehicle’s (or other asset’s) electrical system to produce hydrogen through electrolysis. The hydrogen is then delivered directly into the air intake, where it is combined with diesel fuel for a more efficient combustion process.

Hydrogen burns at a higher flame speed than diesel, so it helps ignite the diesel more completely. This improved combustion not only increases thermal efficiency but also reduces the production of carbon dioxide, NOx, carbon monoxide, and diesel particulate matter.

It also means there’s no storage, no pressurised tanks, and no safety risk associated with idle generation. The system is simple in concept, but sophisticated in design, using the principles of chemistry and physics to help diesel burn more completely.

By improving the combustion process, HYDI offers multiple benefits that extend beyond fuel savings. Hydrogen, when mixed with diesel, promotes a faster and more uniform burn. This leads to more energy being extracted from the same amount of fuel, and fewer unburned hydrocarbons or particulates being released into the atmosphere.

We also expect to see improvements in engine performance, extended oil and exhaust system life, and reduced soot buildup, all of which contribute to lower maintenance costs and greater equipment longevity.

The HYDI technology itself isn’t new. Electrolysis has long been used to split water into hydrogen and oxygen, and hydrogen-enhanced combustion has been trialled in various heavy industries.

What is new is the application of this technology in a mining context, where the scale, duty cycles, and operating environments are vastly different.

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Essentially, the operator is obtaining more energy from each drop of diesel and producing less waste in the process. This results in a cleaner, more complete burn inside the engine. And because the system only produces hydrogen when required, it adjusts to the load conditions of the machinery, whether idling, hauling, or working under full throttle.

We have taken a disciplined approach. Two haul trucks have been fitted with HYDI units as part of a three-month trial.

Fuel consumption, emissions, and maintenance indicators were all recorded prior to the installation of the HYDI units. We will collect the same data post-trial to objectively assess the outcomes.

We need transitional technologies that can bridge the gap, solutions that reduce emissions today while the infrastructure and economics of full electrification mature.

'Hydrogen On Demand' fits neatly into that space.

It’s no secret that mining remains under constant scrutiny for its environmental footprint. That scrutiny isn’t going away, nor should it. It keeps us accountable and drives innovation. What matters now is how we respond.

For many mining companies, the path toward decarbonisation is complex. While electrification and renewable energy integration are long-term goals, the reality is that diesel will remain essential to heavy mining equipment for years to come.

We cannot simply wait for future technologies to solve every challenge; we have a responsibility to improve the systems we already rely on. Innovation doesn’t always mean reinventing the wheel. Sometimes all that’s needed is to improve the wheel we already have. We need transitional technologies that can bridge the gap, solutions that reduce emissions today while the infrastructure and economics of full electrification mature.

Hydrogen On Demand fits neatly into that space. If we can cut fuel use, extend maintenance intervals, and reduce emissions without sacrificing performance, that’s a win for both the environment and the bottom line.

The beauty of systems like HYDI is that they don’t require a complete overhaul of existing infrastructure. You can retrofit them to existing diesel equipment, meaning the barriers to

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Reduced fuel consumption translates directly to lower operational costs, and when combined with reduced emissions, it creates a strong dual incentive for adoption.

Whether the industry is looking to reduce Scope 1 emissions, extend asset life, or simply burn diesel more efficiently, this kind of incremental innovation can deliver real-world benefits.

It’s not a silver bullet, but it’s a meaningful step forward.

This trial is important not just for Baralaba Mine but also for the wider industry and cross-sector applications. The resources industry must continually assess new technologies that help us reduce costs, enhance safety, and operate more responsibly, so that every successful innovation helps raise standards for all and publicly demonstrates progress toward sustainability.

Ultimately, our sector is built on ingenuity and adaptation.

We’ve always found ways to do things better, and the HYDI trial is one more example of that mindset in action.

And regardless of the outcome, the trial itself represents a milestone. It signals that Australian mining is open to exploring new technologies that align economic and environmental performance, not as opposing goals, but as shared objectives.

Baralaba Mine is incredibly proud to be working with Tim and his team at AAMG, taking a leading role in testing systems like HYDI. It’s an important step toward a smarter, more sustainable future for mining. 

Produced locally in Mackay: OG36 high-grade compost – over 35,000m3 manufactured annually Crushed Concrete Road Base and drainage We manufacture bulk premium top soils Sands and loams Mulches, woodchips and barks Gravels, aggregates and decorative stones Turfing and top dressing Soil amelioration and conditioning Industrial and general landscaping

Large-scale revegetation landscaping, earthworks and bulk organics supply: Revegetation landscaping and rehabilitation Recyclable waste receiving – green waste, concrete waste, fill & timber pallets Mobile screening, crushing and grinding – soil, concrete & green waste

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Bulk haulage and earthworks Greening our communities with diverse and successful projects including Northern Beaches, Terviva Pongamia Project, Walkerston By-Pass, South Walker Creek and Haughton Pipeline

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Risk, technology and innovation

entry are low compared to full fleet replacement or conversion to alternative fuels. That makes it an attractive proposition, both economically and environmentally.

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Risk, technology and innovation

How innovation, resilience and collaboration defined Grosvenor Mine’s re-entry journey Shane McDowall, General Manager, Grosvenor Project Anglo American

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very metre of progress to re-enter underground at Grosvenor Mine near Moranbah has been earned through innovation, collaboration and discipline.

Every planning meeting, every decision and every action since sealing the mine in June 2024 has been focused on two key things — the safety of our people, and the effective re-entry underground.

Through our 13-month recovery journey to re-enter the mine, our team worked side by side with the Queensland safety regulator, industry safety representatives and Queensland Mines Rescue Service (QMRS) to ensure every step we took was safe and considered.

The progress at Grosvenor Mine reflects not only technical achievement but also the extraordinary dedication, ingenuity and adaptability of our people. Our crews stepped up in amazing ways - solving problems, adapting technology in innovative ways and rethinking how we do things underground.

Understanding the environment From the outset, our priority was understanding underground conditions without putting anyone at risk. To do that, we had to think differently – and fortunately, we did not have to look far for support.

Working with Mackay-based Cut Coal Technology, we developed a purpose-built light detection and ranging camera system which used simultaneous localisation and mapping (SLAM LiDAR). The ‘torpedo’ device, about 1.5m long and 150mm diameter, was fitted with multiple cameras, lights and environmental sensors for methane and oxygen.

Lowered up to 400m through bore holes using a winch, the SLAM LiDAR device delivered high-definition imagery of the workings, and atmosphere readings, which allowed engineers to map accurate 3D models of the underground environment.

That data confirmed what we needed to know – that the integrity of the roof, ribs and conveyor systems were largely intact, with only localised heat damage from the fire. It gave us a factual foundation for our re-entry plan.

BBMC Yearbook 2025

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This technology had not previously been used in this way and we believe it will have future applications across the industry. It is a great example of the worldclass capability that exists right here in our own region.

We also employed drones for high-resolution imagery, methane detection and airborne LiDAR. Laser scanning helped with precision fabrication for critical surface infrastructure during shaft ducting and fan installation, a critical part of the re-ventilation process.

We initially trialled a robodog for potential underground inspections and we have also put a robot rover through its paces for possible future use.

None of these tools existed in our standard toolkit before the incident; they were developed, adapted or reengineered in response to the challenge.

Turning challenges into innovation From the earliest stages of recovery, the Grosvenor team recognised the scale of work required was significant but there was no manual for how to execute it.

Multiple high-risk activities had to be sequenced and controlled – ventilation installations, shaft recovery, dewatering, air-conditioning relocation and knifegate seal construction.

We took a ‘fast failure’ approach where anyone could put up new ideas and potential solutions to the tasks at hand without fear of failure.

Taking that agile approach meant we were able to adapt quickly to come up with the best, and safest, solutions as we progressed through the rectification process.

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A standout example of the team’s out-of-the-box thinking came from a keen fisherman who proposed using an electronic rod and reel, paired with a tennis ball, to measure water levels in the underground environment through boreholes.

At Shaft 5, which was filled to the surface as part of the initial sealing process, a reverse circulation drilling method slowly removed material at 5m a day, using pressurised water and air to push dirt and rocks to the surface. After the material was removed safely, we installed a 70kparated knifegate to maintain the pressure rating needed for blast protection.

At Shaft 6, a clamshell grab attached to a 280-tonne crawler crane was used to excavate dirt pushed in using remote-control dozers to seal the mine. We mixed industrial detergent with compressed nitrogen to create a foam to help separate the underground and surface atmospheres as the dirt was removed from the ventilation shaft.

Together with exhaust and forcing fan installations, these works were the backbone of the re-ventilation process – the step that ensured safe underground access for people once again.

It is complex engineering but every task was planned, risk-assessed and executed with precision. There were no shortcuts.

Collaboration that sets a new benchmark The Grosvenor Mine recovery journey has been a prime example of what the mining industry does best – pulling together to solve complex challenges safely, methodically and with unwavering determination.

We worked closely with Resources Safety and Health Queensland (RSHQ), Industry Safety and Health Representatives and the QMRS to ensure each stage met every safety and regulatory requirement.

When we began the Zone A reconnaissance, QMRS teams from across the Bowen Basin joined us on site. Other mining companies released their own personnel to help, another humbling example of how this industry supports one another when it matters.

That collaboration extended beyond operations, with engineers, contractors and suppliers across Queensland contributing ideas, technical ability and a shared commitment to safety.

Our people For me, the most rewarding part has been watching our people respond to a completely new set of challenges with out-of-thebox thinking. Grosvenor has a small team but the capability within that team is exceptional. We brought together experienced underground miners, tradespeople, engineers and project specialists but no one had experience in the type of work we were undertaking.

It makes me incredibly proud to be a part of that collaboration, innovation and watching people grow as leaders; expanding their own skill sets as they accomplished tasks they would not normally achieve in traditional underground mining.

There’s a lot of passion and pride in the Grosvenor workforce and that team spirit - from people of all different work backgrounds coming together - has been at the heart of our progress.

Collaboration extended beyond operations, with engineers, contractors and suppliers across Queensland contributing ideas, technical ability and a shared commitment to safety.

There are a lot of proud workforce members who want to see Grosvenor Mine continue to safely progress its re-entry and restart journey toward a strong and sustainable future. That is what keeps us going.

The underground environment is stable and our monitoring systems are providing accurate real-time data on atmosphere and airflow. Our reconnaissance inspections and rectification works will continue in rolling deployments before we progress to future stages of re-entry.

around the world to change what we do here at Grosvenor Mine to make it even safer underground.

We have proven disciplined teamwork delivers results and it is our collective duty to keep learning and improving.

We have not finished our re-entry journey yet but we believe we are on the right path – for our people, for Moranbah and for the future of Grosvenor Mine. 

The next phase will build on the lessons learned, applying what has worked and refining what can be improved. Our technical teams are looking at the latest technology

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Risk, technology and innovation

The journey forward

Digitising for wellbeing: Tackling psychosocial risk through WHS innovation Mick Storch, Founder and Managing Director Mackay Safety and 4PS Software

I Image: Kestrel Coal

Psychological safety is not achieved through a single app or initiative.

It’s built into the way work happens every day.

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n the resources sector, ‘safety’ typically refers to measures like hard hats, pre-starts, hazard reports, and PPE that protect against physical risks. Yet not all risks are visible. Psychosocial hazards – those arising from how work is designed, organised, and managed – can have equally serious consequences for health, safety, and productivity.

In recent years, psychological safety has shifted from being a ‘soft’ issue to a regulatory and operational imperative. New codes of practice on psychosocial hazards have made it clear: employers must treat psychological health as seriously as physical safety. For the complex, high-pressure environments of the mining and resources sectors, this shift represents both a challenge and an opportunity.

Hidden risks in everyday work Psychosocial hazards can emerge anywhere in a business, but they often stem from routine processes. High workloads, unclear roles, time pressure, poor communication and low autonomy can create chronic stress. Over time, this affects not only individual wellbeing,

but also team performance, turnover and safety outcomes.

These issues are not abstract. In highcognition, high-stakes roles such as payroll, logistics, rostering or safety administration, stress accumulates quietly. Employees managing critical systems under tight timeframes face a heavy mental load.

Administrative employees often bear the burden of responsibility for errors due to archaic systems, unfair work pressures, and an internal drive to support management.

When something goes wrong in the field due to miscommunication or slow reporting, the finger is often pointed back at the administration team. Typically, people in admin roles strive to cope with multiple tasks but can become overwhelmed if not adequately supported. When processes rely on manual workarounds, multiple data touchpoints or inconsistent communication, stressors multiply. The risk can amount to psychological harm rather than just inefficiency.

Humanology Group Director and WHS consultant Naomi Armitage, who specialises in psychosocial risk assessments, notes that these are ‘textbook examples’ of psychosocial hazards under Safe Work Australia’s model code of practice. “Work pressure is the leading cause of psychosocial injuries in Australia,” she explains. “When jobs are designed without room for error or clarity, the cognitive and emotional toll is significant.”

Risk, technology and innovation

A regulatory and cultural shift

The bigger opportunity for the sector

Under Australia’s new psychosocial hazard codes, employers have a legal duty to identify, assess and control psychosocial risks, just as they would physical hazards. This reflects a broader cultural shift. Psychological health is no longer treated as a secondary concern or an individual resilience issue.

The resources industry is known for its focus on physical safety innovation, including proximity sensors, fatigue monitoring, collision avoidance and automation of high-risk tasks.

Psychosocial safety represents the next frontier.

The most effective controls are not wellbeing apps or stress management programs. Effective controls tend to focus on the upstream causes such as how work is structured and supported.

Eliminating or minimising exposure to psychosocial hazards through better work design is the gold standard.

For many mining and contracting companies, this means rethinking legacy systems, manual processes and highfriction workflows that quietly create unnecessary stress.

Technology as an enabler This is where WHS innovation and digitisation come into play. By automating repetitive tasks, streamlining information flow and improving process transparency, digital tools can significantly reduce psychosocial risk factors such as role ambiguity, workload pressure and emotional strain.

In one recent project in Queensland’s Bowen Basin, a drilling and rehabilitation contractor identified payroll as a pressure point. As operations grew, so did the administrative burden. Multiple approval stages, rekeying data across platforms and time delays created stress for both finance staff and field employees.

Instead of tackling stress at the individual level, the company took a systems-based approach. They redesigned the process itself, introducing a digital payroll dashboard to automate approvals, reduce errors, and create real-time visibility.

The impact went far beyond efficiency.

Processing times halved, cognitive load reduced, and employees gained greater clarity and confidence in the system.

Designing out the hazard This simple example reflects a principle that can be applied broadly across the resources sector: psychosocial risks are best managed by designing them out of the system altogether. Everyone benefits when processes are structured to minimise ambiguity, unnecessary administration and emotional friction.

The benefits flow across all lines of responsibility: • For frontline workers, it means clearer expectations, reduced uncertainty and fairer systems.

• For administrators and supervisors, it means less mental load and fewer conflicts to resolve.

• For organisations, it means a stronger safety culture, fewer psychological injury claims, and better operational flow.

A preventative, systems-based approach aligns closely with the hierarchy of controls. Just as engineering controls are preferred over PPE in physical safety, work redesign and automation can eliminate or minimise psychosocial hazards before they cause harm.

From compliance to culture Regulatory compliance may be the driver for many organisations to address psychosocial hazards, but the opportunity goes much deeper.

Digitising workflows can catalyse cultural change.

When stress-inducing friction points are removed, trust builds across teams.

People feel heard. Processes feel fairer.

Communication improves. These are the foundations of a psychologically safe workplace.

As WHS practitioners and business leaders, we often talk about ‘getting ahead of risk’. In psychosocial safety, this means identifying the hidden risks embedded in everyday processes and addressing them at their source.

By embedding psychosocial risk controls into existing WHS systems, companies can meet their regulatory obligations while also strengthening workforce resilience and performance. Dashboards, automated workflows, digital forms and integrated platforms are tomorrow’s tools of wellbeing. When designed thoughtfully, they remove stressors that would otherwise chip away at morale, retention, and safety culture.

The ripple effects are tangible. Freed from administrative bottlenecks, teams can focus on higher-value work. Supervisors spend less time resolving conflicts. Employees have clearer visibility over their roles and responsibilities.

Psychological safety isn’t achieved through a single app or initiative. It’s built into the way work happens every day.

Looking forward As an industry, mining is good at responding to incidents once they occur.

But the next step in safety leadership is to design workplaces where harm – physical or psychological – is less likely to happen in the first place.

The integration of psychosocial risk management into WHS systems presents an opportunity for the resources sector to take a leading role.

It’s about going much further than compliance to build environments where people can do their best work without unnecessary stress.

Safety incorporates much more than hard hats and high vis today. It includes clarity, confidence and culture – and those things start with how we design the work itself.  BBMC Yearbook 2025

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Seeing the whole risk How CaNeTa is rewiring risk management in the Bowen Basin

Dr Ben Seligmann, Sustainable Minerals Institute The University of Queensland

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he Bowen Basin is no stranger to complexity. As one of Australia’s most productive coal regions, it operates at the intersection of geological uncertainty, regulatory scrutiny, workforce safety, and global market volatility. Yet despite the sophistication of its operations, risk management in mining often remains trapped in a linear mindset, treating hazards as isolated entries in a register rather than dynamic forces in a system.

safety shortcuts, and environmental non-compliance. These cascading effects are not captured by traditional tools, leaving leaders blindsided by the ripple effects that turn a near miss into a multi-faceted incident.

In the mining industry, where operations are tightly coupled across shifts, sites, and supply chains, this blind spot is costly.

What’s needed is a way to see the web of risk, not just its individual strands.

CaNeTA: mapping the risk landscape as a network CaNeTA addresses these issues by modelling risk as a causal network. Each risk becomes a node, and directional arrows represent cause-and-effect relationships. The result is a map of how risks influence, and are influenced, by others.

This is where Causal Network Topology Analysis (CaNeTA) offers a breakthrough. Developed at The University of Queensland’s Sustainable Minerals Institute, CaNeTA is a network-based methodology that transforms how mining leaders understand, prioritise, and act on risk. It does far more than merely catalogue threats. It reveals how they interact, propagate, and concentrate across an operation. And in a region like the Bowen Basin, where a single disruption can ripple across production, safety, and reputation, that clarity is game-changing.

The problem with traditional risk management Most mining operations rely on risk registers that list hazards one by one, such as equipment failures, procedural lapses, environmental exposures, and regulatory breaches. These tools are familiar, auditable, and often mandated. But they miss the forest for the trees.

When something goes wrong on a mine site, it rarely stays contained. For example, a faulty conveyor belt might delay production, but it can also trigger overtime pressures, 74

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Figure 1 - A landscape of interacting risks visualised as a causal network

• Reveal hidden interconnections: Understand how a safety lapse might trigger regulatory scrutiny or how a supply chain delay could amplify cultural stress across teams.

• Prioritise systemic vulnerabilities: Focus on risks that sit at the centre of the network, those whose mitigation delivers outsized benefits.

• Compare intervention strategies: Test how controlling one risk affects others, enabling proactive investment and control strategies.

• Align with operational reality: Tailor risk analysis to the specific context of a mine site, department, or stakeholder group.

In practice, CaNeTA transforms static registers into intelligent maps, forming them into tools that support strategic clarity, not just compliance.

The mining context Coal mining in Queensland faces a unique blend of pressures.

As well as the technical challenges of extraction, operators must navigate: • Safety and workforce wellbeing: High-risk environments demand constant vigilance, yet fatigue, turnover, and cultural dynamics complicate control.

• Environmental and regulatory scrutiny: Water discharge, dust emissions, and land rehabilitation are under increasing scrutiny from the public and government.

• Market and supply chain volatility: Global demand shifts, transport bottlenecks, and geopolitical tensions can disrupt even well-planned operations.

• Community and stakeholder expectations: From First Nations engagement to local employment, community is critical to engage and include for lasting success.

Each of these domains contains risks. But more importantly, they contain interactions. CaNeTA helps mining leaders see these interactions clearly, enabling decisions that are not merely reactive, but resilient.

Creating actionable insights with CaNeTA’s structural insights CaNeTA quantifies networks alongside the visual representation.

Using metrics from network science, it identifies which risks are structurally central, vulnerable, or influential.

Metric Degree (In/Out)

What It Reveals How many arrows connect a risk. High outdegree = influential risk; high in-degree = vulnerable risk.

Betweenness How often a risk acts as a bridge between Centrality others. Gatekeeper risks can stop incident propagation.

How quickly a risk can affect or be affected Closeness by others. High closeness = fast propagation Centrality potential.

(In/Out) Eigenvector How connected a risk is to other critical risks.

Reveals “power brokers” in the risk ecosystem.

Centrality Robustness Simulates the effects of interventions. Shows Analysis which actions truly build resilience.

Figure 2 - CaNeTA quantifying metrics

In practice, CaNeTA transforms static registers into intelligent maps, forming them into tools that support strategic clarity, not just compliance.

These metrics translate complexity into clarity. For example, a risk with high betweenness might not seem severe on its own, but if it connects multiple failure pathways, it becomes a strategic priority. Likewise, a risk with high out-closeness might be the best starting point for proactive control.

Breaking down common silos Mining operations are frequently divided by function, site, or discipline. Safety teams address incidents, environmental teams concentrate on compliance, and operations prioritise throughput.

However, risks cross these boundaries. CaNeTA helps break down silos by integrating diverse data sources and stakeholder inputs into a unified causal scenario. It shows how controls in one area might have unintended consequences elsewhere, or how departmental blind spots can amplify systemic vulnerability.

This approach aligns with frameworks like ISO 31000, which emphasise the importance of organisational context. CaNeTA complements these efforts by providing structural insight, allowing for the interrogation of the architecture of risk itself.

Stakeholder relevance: making risk management inclusive Throughout the resources sector, stakeholder expectations are evolving. Communities want transparency, workers want safety, regulators want accountability. CaNeTA supports inclusive risk management by tagging risks with stakeholder relevance: who is affected, whose voice is represented, and where equity matters.

This is especially important in areas like water discharge, land rehabilitation, and cultural heritage. By visualising whose concerns are entangled in the risk network, CaNeTA enables prioritisation that reflects not just technical metrics but social legitimacy.

From complexity to strategic clarity The Bowen Basin is entering a new era, one where resilience is not just about surviving disruptions but thriving in complexity.

CaNeTA offers a practical compass for this journey.

It complements traditional risk tools rather than replacing them. While it doesn’t guarantee certainty, it provides clear insights. Additionally, it doesn’t merely identify threats but highlights leverage points where action can be most effective.

For mining leaders, this entails shifting from addressing symptoms to tackling root causes, transitioning from reactive firefighting to proactive planning, and moving from isolated risk perspectives to comprehensive decision-making.  BBMC Yearbook 2025

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This network view enables mining leaders to:

Clearing the air

Dust control and ventilation opportunities in heavy mining equipment Geoff Sokoll, Director CMP Engineers

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irborne dust is one of mining’s oldest challenges and one of its most persistent. Despite decades of awareness, new cases of coal workers’ pneumoconiosis and silicosis continue to emerge, reminding us that vigilance is essential.

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reporting through Resources Safety and Health Queensland (RSHQ). Yet, even as compliance frameworks tighten, dust remains a complex and evolving problem – particularly within the large machines that keep our mines running.

The hidden hazard in plain sight Dust exposure is often viewed as an open-cut issue, but some of the highest risks lie inside the very equipment designed to sustain production.

Draglines and electric shovels rely on robust ventilation systems to cool motors, gearboxes and electrical control cabinets that together generate more than a megawatt of waste heat.

Each minute, these systems draw

in volumes of air equivalent to four Olympic swimming pools – along with everything suspended in it. Fine dust, moisture and debris enter through the vents, where older filtration systems struggle to separate the clean from the contaminated.

Most draglines still use Dynavane filters – an inertial design first developed in the 1960s. They are robust and straightforward, with no moving parts, but their limitations are apparent. Fine dust can pass straight through, while the narrow internal gaps quickly clog with compacted dirt and insects. When airflow drops, equipment runs hotter, efficiency falls, and electrical reliability suffers.

This is more than a maintenance issue. When contaminated air recirculates, fine dust settles on highvoltage components, increasing the risk of electrical flashovers. In severe cases, overheating can trip breakers and halt production.

The engineering reality is simple: airflow, cooling and dust control are inseparable.

Lessons from the field Across dragline and shovel audits, a recurring pattern emerges – preventable problems that compound over time. Access panels designed in another era make cleaning difficult, so filters are left longer between maintenance cycles. ‘Blow-outs’, using compressed air was once a common practice, but are now banned under RSHQ Safety Bulletin 183 because they blast respirable dust back into workers’ breathing zones.

The result is predictable: poor ventilation, higher temperatures, and unnecessary exposure. Yet the solutions are rarely expensive. In most cases, incremental improvements, such as better cleaning access, condition-based maintenance, or modest fan upgrades, deliver outsized benefits.

Some sites have installed scavenge fans to improve how contaminated air is drawn out of Dynavane units. Others have installed pressure sensors that alert crews when filters begin to clog, prompting cleaning before performance declines. A few have introduced redesigned intake meshes and rain hoods that minimise the build-up of cemented dust.

All these changes share a common trait in that they treat dust management as a systems issue, not just a housekeeping task.

Smarter airflow and the path ahead Technology is opening new opportunities for those willing to rethink old designs.

Computational Fluid Dynamics (CFD) modelling – once reserved for research labs – is now being used to simulate airflow within draglines. By visualising how air moves through a machine housing, engineers can test ‘what-if’ scenarios, such as ‘What if fan speeds varied with temperature?’

‘What if louvres were angled differently?’ ‘What if ducting layouts were changed?’

These virtual trials cost little but can reveal significant gains. Minor adjustments to airflow direction have been shown to reduce hot-spot temperatures by up to 15 °C which is enough to prevent nuisance trips and extend component life.

Every site will take a different path, but the principles remain the same:

The shift from direct-current to alternating-current motor technology presents another opportunity. AC systems generate less waste heat, cutting airflow demand by as much as two-thirds. With less air required, alternative filtration methods – such as cartridge filters commonly used on shovels – become feasible for draglines. These capture much finer particles and could dramatically reduce airborne dust within machine housings.

Variable-speed fan control is another simple but powerful innovation. Traditional systems run fans at full speed around the clock, even on cool nights when slight cooling is needed.

Slowing fans when ambient temperatures drop not only saves energy but also reduces the total dust drawn into the system.

Beyond compliance: a culture of clean air Engineering upgrades are vital, but lasting progress depends on mindset. For too long, dust management has been treated as a compliance exercise – a box to tick rather than an integral part of reliable, efficient operations.

Real improvement comes when operators see clean air as a productivity enabler, not just a regulatory requirement.

• Understand your airflow.

Know where clean air enters, where it stagnates, and where dust collects.

• Maintain access. Design or retrofit equipment so filters can be reached, inspected and cleaned safely.

• Monitor intelligently.

Combine periodic audits with real-time data to detect issues early.

• Invest strategically. Target high-impact upgrades – from scavenge fans to smarter controls – that reduce both heat and dust.

A shared responsibility Mining will always move rock and generate dust – but how that dust is managed will define the industry’s reputation and resilience. The solutions already exist; what’s needed is collective intent.

For senior site executives, that means keeping dust control at the top of the safety agenda. For maintenance teams, it means taking pride in clean systems, as well as operational ones.

And for the wider industry, it means recognising that the true cost of dust extends beyond filters and fans – it touches people, productivity, and trust.

Clean air is the foundation of safe, sustainable and reliable mining. The challenge before us is to make it standard practice, not the exception.  BBMC Yearbook 2025

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Cleaner machines run cooler, components last longer, and crews spend less time troubleshooting electrical faults or overheating motors. Healthier workers, fewer stoppages, and lower maintenance costs all add up to stronger performance.

The road to zero harm

Technology and road safety fundamentals prevent vehicle-related accidents David Milling, Director and Principal Road Safety Consultant RSDH Consulting & Advisory

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ehicle automation, Advanced Driver Assistance Systems (ADAS), driver behaviour and speed monitoring systems are now commonplace on many mine sites. However, whilst the occurrence of vehicle-related accidents is declining, the challenge of ensuring safe interaction between people, vehicles, and infrastructure remains.

During the 2024–2025 financial year, Resources Safety & Health Queensland recorded 523 incidents, of which 139 were vehicle-related. Despite the advancement and implementation of technology-based solutions to reduce vehicle-related accidents, the issues remain.

Are technology-based solutions effective? Do they effectively mitigate the contributing factors? As a site superintendent or health and safety manager, should I adopt more technology measures to create a harm-free work environment?

Vehicle-related accidents in Queensland Mines, 2024 – 2025 Vehicle: Collision with built or natural structure 9% Vehicle: Rollover 20%

Vehicle: Collision with another vehicle 53%

Vehicle: Unplanned movement of vehicle 18%

Source: RSHQ 2024 - 2025

Complex risk environments require planned risk management The factors that contribute towards vehicle-related crash risk on mine sites are complex. The mix of light vehicles, haulage vehicles, plant, and the variability in road and access track environments, intersection priority changes, remote locations, dust conditions, driver fatigue, and a transient workforce all contribute to the unique risk factors on mine sites.

Given the advancement and broader implementation of technology solutions aimed at reducing vehicle-related accident risk, why are vehicle-related accidents still occurring?

Perhaps the answer lies in considering whether the solutions were implemented as part of a road safety strategy or as a standalone solution. A standalone solution, whether it be a

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Looking through a strategic lens, it is perhaps not whether technology-based solutions are providing a benefit, but a question about how and why they were implemented, and whether they actively mitigate the contributing risk factors on a particular site.

Road safety engineering fundamentals Managing road safety risk is a challenge on both public roads and mine site networks. While the context differs, the factors contributing to accident risk remain the same. A point of difference is that public road authorities mitigate crash likelihood and severity through comprehensive guidelines, and teams of engineers specialising in design, traffic, and asset management work together to provide a systematic approach to reducing risk.

While some guidance is available for designing mining haul roads, this does not capture the nuances of a multidisciplinary approach or cater to site-specific risks, or operational requirements. And this guidance does not identify best design practices for non-haulage road networks, car parks, or pedestrian facilities.

Mine sites can adopt a similar approach to public road authorities by developing a site-specific road safety strategy and implementing a safety plan. This proactive approach helps identify risks and develop an implementation plan to address vehicle-related risks before incidents occur.

As mine sites have total control over all operational aspects of their road networks, there is a substantial opportunity to provide highly effective, practical mitigation measures and critical controls that reduce vehicle-related accident risk.

Technology, systematic application for effective risk reduction Technological solutions can play important roles in reducing accident risk.

However, these will be most effective when applied as a contingency or support measure in conjunction with road safety engineering measures.

Multiple layers of mitigation measures work together to reduce crash risk. The focus should not be whether traditional road safety engineering measures or modern-day automated vehicles or ADAS vehicle technology are more effective in reducing vehicle-related accident risk, but how these can work together to reduce accident risk.

Consideration needs to be given to how the measures provided on your network align with the hierarchy of control and what redundancy measure is in place if a higher order control fails. For example, automated vehicles and ADAS features have the potential to function as an Elimination control measure. However, if they fail, what contingency measures will need to be provided by road safety engineering measures to ensure a layer of redundancy is present?

Low-cost technology solutions In recent years, subtle advancements in self-luminescent paints, LED lights, solar panels, battery power storage, lidar and radar, vehicle telematics and cloud computing have resulted in the availability of a broad range of low-cost solutions that can be implemented to mitigate vehicle-related accident risk.

Each of the following treatments, when implemented within a Safe System with Road Safety Engineering measures, can further reduce vehicle-related crash risk: • Vehicle and pedestrian proximity alert systems.

• Speed-activated warning sign systems.

• Vehicle on side road activated warning signals or speed reductions.

• Portable, programmable intersection signals.

• Pedestrian-activated signal controls and/or warning lights and overhead lights at pedestrian crossings • Self-luminous (glow in the dark) signs, road edge guideposts, traffic bollards and vehicle wraps.

• Backlit or overhead lit regulatory, warning and information signs.

• Roadside speed and intersection stop control monitoring systems.

• In-vehicle driver fatigue monitoring systems.

• In-vehicle collision detection and warning systems.

• In-vehicle speed monitoring and warning systems linked to the safe speeds as per the traffic management plan.

Creating a safe system A safer mining road network can be achieved through the adoption of the Safe System approach, which focuses on five pillars working together to reduce vehicle-related accident risk: safer roads, safer vehicles, safer speeds, safer road users (including drivers and plant operators) and planning to expedite post-accident response.

Mine sites can create a resilient road network that anticipates driver error and minimises its consequences, protecting workers, contractors, and visitors alike through the development of a sitespecific Road Safety Strategy that is founded on the Safe System principles.

A site-specific Road Safety Strategy is developed through road safety audits, traffic management plans, and network infrastructure improvement plans.

Where appropriate, the adoption of technology-based solutions to supplement or support fundamental road safety engineering practice will play an important role in creating a Safe System.

Collaboration is key to reducing risk Mine sites have unique operational environments and accident risks, however, in comparison to public road networks, mine sites also have the flexibility to develop and implement fit-for-purpose solutions. This presents an opportunity to develop Road Safety Plans that implement the strategy in collaboration with site superintendents, health and safety managers, and operational staff.

By ensuring road safety engineering principles are applied with operational insight, vehicle-related accident risk can be reduced while improving network flow and productivity. Collaboration between mining specialists, road safety engineers, and technology developers is also essential to achieving a Safe System.

This is especially important on mine sites globally, where diverse languages, fatigue, complacency, and distraction heighten the challenge of maintaining safe vehicle interactions.

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Risk, technology and innovation

technology-based solution or otherwise, will be more effective when applied within a structured safety strategy supported by sound road safety engineering principles.

Many low-cost technology solutions already used on public roads can be adopted at mine sites. Innovative technologies that might not be suitable or feasible for public roads could offer practical benefits for mine sites. When conducting a root cause analysis of vehiclerelated accidents on mines, a common factor identified is human error (e.g., driver fatigue, distraction, or mistake). The Safe System approach acknowledges that accidents will happen because of human error, but the other pillars aim to reduce either the likelihood of crashes or their severity. Special focus is given to how roads and vehicles can add extra layers of safety in case of human error.

Road safety engineering principles, applied with operational insight, reduces vehicle-related accident risk and improves productivity.

Technology: Gimmick or practical solution?

When considering the mitigation of vehiclerelated crash risk through the adoption of technological solutions, it is essential to select a solution that addresses the contributing risks and provides the required mitigation measures identified in the road safety strategy. This will ensure that the technology solution is fit for purpose and functions as a practical solution.

Some ‘off the shelf’ examples are:

Image: Turnbull Photography

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• Nighttime crash mitigation: Increased visibility of vehicles at night through photoluminescent paints, vehicle wraps and accent markings. This may be particularly beneficial for areas such as ROM pads and ancillary services areas where light vehicles, haulage vehicles and plant are required to share the same space. The self-luminescence of a vehicle enhances conspicuity for the driver of a larger vehicle or plant, as well as for any AI-powered camera-based proximity alert systems. (source: Smarterlite 2025) • Time separation of movements: Clear identification of right-of-way for intersections and pedestrian crossings through traffic signals. Portable traffic signals are beneficial at intersections between light and heavy vehicle routes, internal roads where safe intersection sight distance (SISD) cannot be provided (e.g. around wash bays, workshops, fuelling areas), and to direct and control traffic that is not familiar with the site (e.g. delivery and visitor traffic). Portable systems with solar power and battery backup allow for flexibility in application and relocation. (source: Traffic Access 2025)

• Vehicle-activated warning signs and speed limits: The presence of a vehicle on the (minor) side road alerts the driver of a vehicle on the priority (major road) that a vehicle is approaching and a speed limit reduction is required. The principles of this system can be reversed to alert drivers on the side road that a vehicle on the priority road is approaching and they should be prepared to give way. (source: DIT 2024) Technology-based solutions on mine sites must be simple to operate, able to withstand harsh environments, and must not be reliant on cellular connection. Most importantly, they should complement any existing risk mitigation measures, thus ensuring a layer of redundancy remains if the technology solution fails.

By combining road safety engineering fundamentals and technology solutions within a site-specific Road Safety Strategy, mine sites can move closer to a zero-harm environment. I encourage readers to challenge the status quo and work with your site superintendent, health and safety managers, and road safety engineering expert to identify risks early, act proactively, and implement measures that prevent vehicle-related crashes before they occur. 

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BBMC BBMC Updates Updates

Image: Turnbull Photography

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bbmc updates

2025 BBMC Luncheons The Bowen Basin Production, projects and future plans: Stanmore’s 2025 outlook Doug O’Brien, General Manager Major Projects, Stanmore Resources 18 February 2025 Guests at the first event in the 2025 Bowen Basin Mining Club (BBMC) networking luncheon series were treated to an up-close look at Stanmore’s operations and plans for the future, with a keynote from Doug O’Brien, General Manager Major Projects.

The sold-out event, sponsored by LAAMP and supported by Hillcock Industrial and Civeo, dived deep into Stanmore’s three core operating assets in the Bowen Basin: South Walker Creek, Poitrel and the Isaac Plains Complex.

Portfolio growth In the previous 12 months, Stanmore has focused on setting up their Bowen Basin portfolio for growth, with targets exceeded across the board, and production records broken. It hasn’t been a ‘business as usual’ focus, with the Isaac Plains Complex shifting their mining focus from Isaac Plains East to Isaac Downs, and a capacity expansion at South Walker Creek taking that operation to 9.4Mtpa ROM coal, and 7Mtpa saleable product.

2025 caps off several years of intensive capital investment for Stanmore, spending more than $360 million since 2022. Within this timeframe, all projects were executed on-time or ahead of budget, along with $40 million in savings delivered.

MRA2C creek diversion at South Walker Creek A major project close to O’Brien’s heart has been the MRA2C creek diversion at South Walker Creek – essentially an 8-kilometre long drain, which unlocks 58Mt of high-quality, low strip ratio coal at the site. Working with contractors, Stanmore undertook 6.5 million cubic metres of bulk earthworks to construct 8.5km of creek diversion and 6.5km of flood protection levees. The project also included the construction of 7.5km of powerlines, 21km of water pipelines, and 230 hectares of land rehabilitation, with 52 pieces of construction equipment on site at the project’s peak.

“It’s not often we eagerly await the rainy season at a mine site, but to see the creek diversion working we certainly did!,” said O’Brien. And the rain started just in time, with a matter of days between the creek diversion project’s completion and significant rainfall.

Collaboration optimises design As part of the capital works program, O’Brien spoke about working collaboratively with contractors to optimise design during construction, rather than setting a price and then holding them to it – a process that saw Stanmore realise more than US$30 million in savings over the creek diversion project alone.

“Value is generated at the front-end – front-end engineering of a project is where you generate savings, and the delivery of the project is where you protect those savings. Low price isn’t everything, it’s about the attitude of the people you get through the door and their willingness to find solutions and keep improving.”

Decarbonisation projects underway O’Brien spoke about several interesting decarbonisation projects underway to complement Stanmore’s operating portfolio, including South Walker Creek’s gas-to-power pilot, partly funded through the Queensland Government Low Emissions Investment Partnership program and capturing future fugitive gas emissions to provide a baseload power source for the site. The company is also leveraging landholding at South Walker Creek to establish a Pongamia plantation, researching the plant’s use case as a feedstock for renewable fuels in partnership with Idemitsu and Terviva.

What’s next for Stanmore in the Bowen Basin Looking to what’s next for operations at Stanmore, O’Brien detailed future fleet upgrades, project extensions and mining services arrangements to set up future years of increased production and efficient strip ratios – returning to a lower capital expenditure profile with all sites now positioned for future growth.

Suppliers hoping to get involved with existing and future projects can expect to work with autonomous on-site general managers, along with the centralised Stanmore procurement team. Each site runs a little differently, due to fit for purpose operating models, and O’Brien says that understanding what’s happening and who the key players are is important.

He also covered the organic expansion of several of Stanmore’s Bowen Basin projects, particularly the strategic ‘Moranbah Complex’, a natural-life extension of Isaac Downs, and the potential at Eagle Downs, which could be the company’s first underground longwall mine. There’s also exploration at Lancewood, targeting the Goonyella Middle seams. 

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To the moon and beyond: Pembroke’s autonomous technology and environmental commitment is modern mining in action Barry Tudor, Founder, Chairman & CEO, Pembroke Resources 29 March 2025 Attendees at the March networking luncheon gained insight into the cuttingedge autonomous mining technology at Pembroke Resources’ Olive Downs Complex, an operation so advanced it has attracted the attention of NASA for potential lunar mining applications.

Pembroke Resources Founder, Chairman and CEO Barry Tudor revealed that NASA representatives have visited their Bowen Basin site to study its autonomous mining systems, which include 21 autonomous trucks and three autonomous drills.

“Modern mining is really interesting,” Tudor told attendees. “We had NASA come to site recently, looking to use our learnings from autonomy at Olive Downs to educate themselves on the possibilities for lunar autonomous mining.”

The sold-out event gave attendees a comprehensive overview of how Pembroke has positioned Olive Downs at the forefront of technological innovation in the mining industry, while simultaneously setting new standards for environmental stewardship.

Tudor outlined the company’s journey from acquisition of the Olive Downs site to approvals in 2019, the construction phase, current operations and a look forward to ambitious expansion plans. He spent time highlighting Pembroke’s success in navigating significant challenges along this journey, including shifting legislation, economic uncertainty, and heightened ESG expectations.

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The Icon Initiative

Building a modern, integrated mine

Pembroke’s environmental commitment extends well beyond regulatory compliance, with Tudor describing their approach as “passing the pub test” with tangible, visible outcomes. A key success in this space has been the establishment of The Icon Initiative, Queensland’s first Koala and Greater Glider Clinic on site at Olive Downs, conducting research on endangered species in their natural habitat.

Tudor emphasised the importance of Pembroke’s integrated approach to mining, describing the Olive Downs Complex as a “campus” that encompasses not only mining operations but also conservation areas, cattle grazing, solar power generation, and the innovative wildlife rehabilitation clinic.

“We don’t shy away from the fact that we’re a coal mine, but that doesn’t mean we can’t set new, strong standards,” Tudor explained. “We’d like them to be what I call passing the pub test. You can look at it, you can touch it, you can see it, and when people come to work at site, they can be proud to be working in a place that’s doing the right thing.”

Key environmental initiatives implemented by Pembroke include a four-stage clearing protocol for vegetation removal that topped the Queensland Mining Awards’ Environment category last year, the establishment of 8,000 hectares of conservation areas (with another 12,000 hectares coming soon), and designing operations to avoid using water from natural territories or groundwater.

Pembroke is also developing a 10-megawatt solar installation to power operations during daylight hours.

Planned production expansion Currently operating at 6 million tonnes per annum, Olive Downs has shipped approximately 3.5 million tonnes of coal to seven countries since commencing production in 2024. The company plans to begin expansion in the coming months, with a target to reach 15 million tonnes within three years.

“When we bought Olive Downs, we knew it had a future as a huge mine. We always envisaged it to be up to a 20 million tonne per annum mine,” said Tudor. “We made the decision to treat it with a lot of respect and to build the first stage with expansion in mind.”

“The idea is when someone comes to Olive Downs, they see an integrated mine, not just a coal mine, it’s an integrated complex and to me that’s what modern mining is about,” said Tudor. “We are responsible, we are doing things in an integrated way, and this doesn’t have to be at the expense of profit.”

The company’s contribution to the local economy has been substantial, with $1.2 billion invested before mining commenced, including $700 million in construction that employed 700 people.

During the construction phase, $63 million was spent with local and regional suppliers, with ongoing production contributing $20 million annually to regional suppliers. At full scale, the operation is expected to employ more than 1,200 people and contribute over $10 billion in royalties to the Queensland government over the life of the mine.

Looking to the future, Tudor expressed confidence in Pembroke’s expansion plans, noting that the company had secured environmental approvals for the full 20 million tonne capacity for the mine’s projected 79-year lifespan. 

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Supply Chain panel discussion: Riding out the cycle together Parry Moore, Procurement Manager, Glencore Coal Assets Australia Sean Milfull, General Manager, Whitehaven Coal, Daunia Mine Jeff Whiteman, Chief Executive Officer and Managing Director, Mastermyne 30 May 2025 Senior mining executives delivered candid advice on navigating current market pressures at the BBMC May networking luncheon in Mackay. The panel of senior leaders from Glencore, Whitehaven Coal and Mastermyne focused on building lasting supply chain partnerships through good times and tougher times.

With coal prices under pressure and cost escalation, BBMC Director Jodie Currie said the panel’s candid insights provided exactly the type of practical guidance the mining community needs during challenging times.

“The panel didn’t sugar-coat the issues, but showed there are real opportunities for suppliers who can demonstrate value, innovation, and commitment to longterm partnerships,” Currie said. “The message was clear – this is a cyclical industry, and the suppliers who invest in relationships and bring genuine solutions during the tough times are the ones who will also thrive when conditions improve.”

Building value beyond price cuts Parry Moore, Procurement Manager for Glencore Coal Assets Australia, emphasised that successful partnerships require more than simple cost reductions.

“Our DNA is that we are an engineering business that safely produces coal, so in procurement we are here to support the business in making the right engineering decisions at the right time. Focusing on the efficient use of resources and productivities. Our relationship with suppliers is inter-dependent. We rely on you to provide us with high quality and cost-competitive goods and services, and you rely on us to keep buying.

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As such, it makes sense for us to seek long-term partnerships where we clearly understand each other’s needs.”

He also stressed the importance of high-quality tender submissions. “We try to make tenders as simple as possible, but I see many vendors waiting for that tender to come out, and then the quality of their submission is poor. I recommend suppliers invest time with estimating, legal, commercial and technical departments because there may not be another tender opportunity for three to five years.”

Regional focus and collaborative partnerships Sean Milfull, General Manager at Whitehaven Coal’s Daunia mine, highlighted the importance of regional suppliers and collaborative relationships during challenging periods.

“In these tough times, we’re in it together. There’s a lot of smart people in this room that can help us get through this well,” Milfull said, noting Whitehaven had set a significant cost reduction target for the financial year across their Queensland operations.

Milfull emphasised Whitehaven’s commitment to regional suppliers: “As a General Manager, if an engineering project comes across the table and I don’t see a regional supplier as one of the options, I’ll send it back and ask them to re-look for options from our region. It’s that important.”

Milfull, who recently transitioned from Queensland to lead Whitehaven’s New South Wales operations, spoke about opportunities to share learnings across the company’s geographic footprint.

“We’re going to look at the greater business – the opportunities are enormous because we’re doing some good stuff in Queensland and NSW has decades of experience to share.”

Innovation and long-term thinking Jeff Whiteman, Chief Executive Officer and Managing Director of Mastermyne, representing the contractor perspective, urged suppliers to bring innovative, value-added solutions rather than waiting for mining companies to initiate contact.

“From adversity comes opportunity, and it’s really down to companies to respond to current challenges,” he said. “In this market you’ve got to be agile and flexible to meet client’s needs. This is really about building a long-term relationship.”

Jeff highlighted examples of Mastermyne’s recent innovations in underground mining, including remote polymeric emergency sealing solutions and totally paperless training compliance systems.

Decarbonisation as opportunity The panel addressed decarbonisation not as a burden but as an opportunity for innovative suppliers to develop solutions that improve operational efficiency while reducing emissions.

“We’ve made commitments as a business to reduce our Scope 1 emissions. The immediate focus for Whitehaven is operational efficiencies – looking at the mine plan, making sure we’re designing for productivity, and maximising the use of our gear,” Milfull explained.

Moore added that Glencore is “very interested in initiatives that can reduce our overall greenhouse gas emissions footprint.”

Industry resilience and pride Despite current market challenges, the panel reinforced the long-term outlook for coal and the importance of maintaining industry pride during difficult periods.

“We should also remind ourselves to be proud of our coal industry. Yes, times are tough, and coal continues to face challenges, but our sector still makes a major contribution to Australia, to Queensland, and here in Mackay and will continue to do so for many years to come,” Moore concluded.

Milfull reflected on suppliers who have grown with the industry: “I look at contractors I’ve seen grow over 25-30 years in the industry. The key ingredients to success have been trust, curiosity, that desire to deliver a superior product or service, and the ability to ride through the tough times. When it’s tough, they come with you and wear the pain, but we all get through it.” 

Adam Lancey, Asset President, BMA 30 July 2025 Guests at the BBMC’s July luncheon were treated to a ‘seat by the fireside’ as BMA Asset President, Adam Lancey, spoke frankly about his insights on navigating current pressures and positioning for future growth.

Better BMA Since taking the helm two years ago, Lancey explained how a strong focus on stabilisation and simplicity, coined ‘Better BMA”, has changed the game, both internally and externally. “We’ve made some really good progress over the last few months. There’s been quite a different feeling within the company internally,” he said.

For example, one impressive result is BMA’s 39.94% female participation across their workforce – nearly reaching their ambitious 40% target. Lancey highlighted how this diversity has brought fresh perspectives at all levels, as well as on-the-ground innovation, from new tooling designs to procedural improvements for both safety and productivity.

Contractor partnerships and safety innovation Differing site requirements are an issue that suppliers and contractors struggle with. BMA is working to standardise requirements across operations, making it simpler for contractors to work across multiple sites. “There is still more opportunity to harness the competitive advantage we have with our sites in close proximity,” Lancey acknowledged.

Technology and the future of mining Drawing from recent visits to leading tech companies including Tesla, Google, and Honeywell, Lancey painted an optimistic picture of mining’s technological future, perhaps even moving to “double autonomy” – smart, autonomous operations that could totally revolutionise mining practices.

bbmc updates

Charting the path to ‘Better BMA’

“There are people in those tech companies who just pick and choose what they want to get excited about. The solutions they invent could apply to problems they don’t even know exist in mining,” he said.

Industry advocacy for future generations The announcement on the day of the luncheon that Bowen Coking Coal had entered administration was a stark warning of the tough economic conditions the mining industry in Central Queensland faces. It was an important reminder to the audience that without the right policy settings in place to make Queensland a competitive place to invest, the flow-on impact of mining companies shutting mines or curtailing production will be felt right along the supply chain.

Despite these headwinds, Lancey remains steadfastly optimistic about coal exports in Queensland’s future. Looking ahead, he predicts that technology will crack the next big breakthrough in mining operations. “I think we’ll get that big leap forward, though I’m not quite sure of the timeframe,” he said. “The ways we optimise ore recovery and refining processes, such as coal washing techniques, are still relatively unchanged. There are real opportunities to improve as our ore bodies get bigger, deeper, and more challenging.” 

However, sometimes changing requirements are safety-related, and BMA’s stance on safety is non-negotiable. Their ‘Safety starts with me’ program focuses on BMA and their partners returning to basics, helping workers understand personal risk at every moment of the day.

Image: Kestrel Coal

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Asset acquisition to industry leadership Douglas Thompson, Managing Director and CEO, Coronado Global Resources 4 September 2025 Douglas Thompson, CEO and Managing Director of Coronado Global Resources, delivered a compelling update on Coronado’s progress at the BBMC's sold-out annual Rockhampton luncheon.

His address focused on operational excellence, strategic execution, and the broader role of Queensland’s coal industry in the state’s economic future.

A journey of transformation In 2011, Coronado started as a private equity venture. Acquiring high potential coal assets, working on operational improvements, and selling them on, the business’s trajectory changed when they acquired the Curragh asset near Blackwater. With this acquisition, Coronado shifted approach to a strategy centred on unlocking long-term shareholder value and driving market cap expansion through sustained operational performance.

The company now operates as a USregistered and ASX-listed entity with three mine sites in Queensland and seven US sites, making it the seventh largest exporter of metallurgical coal globally. This successful dual listing broadens market access and visibility, while also elevating the company’s governance and stakeholder communication practices.

Safety-focused culture is non-negotiable Focusing strongly on safety performance since inception, Coronado has shifted the needle from concerning injury rates to industry-leading benchmarks. Douglas stated that sustainable operational performance requires both physical and physiological safety to create an environment where employees feel valued and secure. He made it clear that ensuring the right safety culture is a prerequisite for achieving optimal performance.

Operational excellence at Curragh

Image: Kestrel Coal

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With the goal of maximising output, he outlined the complex engineering challenges involved in optimising

Making drag lines the primary waste movement method and reducing the sites’ truck and shovel fleet requirements, the Curragh team successfully shaved over $100 million in costs, with group-wide efficiency improvements exceeding $200 million.

Essentially, they simplified operations, optimising dragline positioning and restructuring the operating model from one complex operation into three distinct, manageable mines. Another key strategy has been transparent, full collaboration with third-party expertise in emerging technology, and open sharing of results and methodology.

Mammoth underground development In the last two years, Mammoth, Coronado’s new underground operation has achieved regulatory approval and produced first coal in December 2024.

The project added about 41 million tonnes of reserves for around $100

million in start-up costs, representing exceptional value compared to new asset purchases. The team achieved above and beyond to meet the “Christmas coal goal” and is currently ramping towards full production. This is Coronado’s first underground operation in Australia, giving the business strategic access to coal even when open-cut delivery is not possible for example during weather.

Looking ahead, Douglas outlined potential expansion opportunities including Mammoth 2 and 3 developments, which could add another 3 million tonnes of annual production, create approximately 500 additional jobs and extend Curragh’s mine life significantly.

‘More than a hole in the ground’ Douglas presented compelling statistics on Coronado’s contribution to the state. Coronado alone has contributed $6 billion to Queensland coffers since listing, creates 2,500 jobs at its Central Queensland sites and supplies 15% of the state’s energy requirements through its contracts with Stanwell Corporation.

To add perspective, the $6 billion in

royalties could have built 12 full regional hospitals or provided 20 years of the state’s disaster relief budget – or 60% of the venue infrastructure costs for the 2032 Brisbane Olympics.

Emulating LNG’s success Douglas’s parallels between Queensland’s LNG transformation into a strategic industry and the opportunities for coal framework provocatively suggested that the industry draw on LNG’s strategies for policy settings and industry collaboration. The coal industry already has many advantages including established infrastructure, proven regulatory frameworks, a skilled workforce, strategic location and strong local community support.

His analysis identified key areas where coal could mirror LNG’s trajectory: economic impact through job creation and investment attraction, energy security positioning, regulatory certainty for investors, strategic export development, and unified policy frameworks. Douglas challenged the audience with the question: “Could we not do the same with coal again?” 

For over 35 years, we’ve been proud to work in the Bowen Basin, alongside a hardworking and dedicated workforce made up of locals and those who travel from surrounding towns and communities.

As we look ahead, we’re excited to continue this journey well into the next decade—building on decades of collaboration and celebrating the people who make mining in this region possible.

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bbmc updates

Curragh’s two open-cut sites. Using the analogy of managing a 12-storey car park whilst simultaneously constructing it, Douglas explained the three-dimensional complexity of best practice mining.

C-Suite panel discussion: Industry resilience takes centre stage Andrew Boyd, Chief Executive Officer and Managing Director, QMetco Janette Hewson, Chief Executive, Queensland Resources Council Jason Economidis, Chief Executive, Aura Mining 20 November 2025 Cost pressures, ownership shifts and the urgent need for transparency led discussions at the BBMC's November luncheon, where a frank C-suite panel laid bare the operational realities facing the sector. The message was clear: survival in the current environment demands innovation, collaboration and a fundamental shift in how the industry operates.

Over an hour of robust discussion, the executives tackled everything from cost inflation and regulatory reform to skills crises and the changing landscape of mine ownership in the Bowen Basin.

Operational realities Opening on operational pressures, the panel didn't pull punches about what's driving costs.

Jason Economidis identified people costs as the primary concern, noting that enterprise agreements continue to deliver wage increases without corresponding productivity gains.

"You also end up with rosters that need more people," he said, before pointing to the compounding effect of take-or-pay contracts for water, accommodation, port and rail.

"Some of the operations in our industry at the moment would be working to lose the least amount they can as opposed to trying to make the most of it."

Andrew Boyd reinforced the urgency of cost management, saying the industry needs to strip out 10 to 15% through innovation and efficiency rather than shortcuts. "We need to get our kind of mojo back in the industry on innovation – doing things better, doing things smarter, getting rid of bureaucracy, using technology."

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State policy reform The royalty burden emerged as a persistent theme. Janette Hewson highlighted that operators no longer have the buffer they once relied on to weather difficult times. "That first year [of the royalties scheme], Queensland Treasury got 318% more than they said they were going to get. That's a huge amount of money that came out of industry," she said, noting that some companies are still paying 30 to 40% royalties on certain shipments.

On regulatory reform, there were signs of progress under the Crisafulli government.

Hewson revealed that QRC's mapping of current approval processes spans 13 A3 pages, demonstrating the complexity the industry faces. "I'm really pleased to see that the Resources Cabinet Committee and both Department of Resources and Environment are starting to figure out how to take away what's not necessary," she said.

However, Andrew Boyd cautioned that streamlined approvals alone won't revive investment. "Unless you've got an economic environment that encourages that investment, it doesn't matter what approvals you get, people aren't going to invest." Jason Economidis agreed, saying the structural cost of doing business must deliver sensible returns. "You end up with a whole lot of investment, which is happening now, where people wait for the business to go under, buy it for cents on the dollar, and then you end up with people with sort of all these scrappy businesses."

The changing ownership landscape For suppliers, the changing ownership landscape presents both opportunity and challenge. Economidis predicted continued asset churn into 2026, with a shift to private capital and debt-financed operations meaning many new owners lack operational expertise.

"Those people who have the money don’t always have the operational skills, or the understanding of Queensland’s legislation and industrial relations landscape," he said, highlighting the opportunity for suppliers who can provide capabilities new Bowen Basin operators need.

Boyd added that new operators offer suppliers the chance to demonstrate efficiency and challenge entrenched practices. "If there are more efficient ways, if there are better ways, then I'm sure you're going to have people that are going to be pretty receptive."

Regional careers challenges bbmc updates

The skills challenge drew passionate responses.

While the QRC’s work with the QMEA is having a significant impact in reaching young people especially in the regions to drive enthusiasm around careers in mining, regional liveability compounds the problem. With the 2032 Olympics approaching, people who can earn the same money without relocating simply won't move to the regions.

Building trust through transparency On supplier relationships, the panel called for greater collaboration and transparency.

Boyd emphasised understanding customer cost drivers and adding genuine value, while Economidis reflected on his experience as a supplier, noting that collaboration often fails due to suspicion. "The suspicion that I was going to make more money actually prevented them from working constructively with me."

Economidis outlined Aura Mining's approach to rebuilding trust: complete transparency through open-book commercial models and accountability for delivery. "To actually not be a smoke-and-mirrors provider, but be somebody who can be trusted and who's transparent."

Optimism emerging Looking to 2026, optimism emerged around changing perceptions of coal and potential price improvement. Andrew Boyd predicted steel market rebalancing would lift met coal prices, while Janette Hewson anticipated a shift in public dialogue about coal's necessity.

"The sensible dialogue is going to have a louder voice," she said, calling on industry participants to make their voices heard with elected representatives, including on the need for royalties reform.

The panel closed with a call to action for suppliers and operators alike: weather the current challenges together, innovate relentlessly, and maintain the industry's nonnegotiable commitment to safety and regional communities. 

Image: Hastings Deering

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2025 BBMC Crib Room Podcast

N

ow in our sixth 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.

LISTEN HERE:

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Reshaping resources policy with Janette Hewson, CEO, Queensland Resources Council In our first interview for the year, we were delighted to talk with Janette Hewson, CEO, Queensland Resources Council, just over 12 months after she took on the job. From policy to approvals, royalties, the next generation and the sector's resilience – the conversation covered a wide range of topics relating to the present and future of Queensland mining: • Current challenges faced by the industry, from changing political landscapes to ongoing royalties and approvals hurdles • The continued importance of mining to Queensland • Surprising stories of decarbonisation that deserve their 'day in the sun' • The steps our state needs to take to remain competitive Baptism by fire Janette reflected on her first year at the helm, describing it as "baptism by fire" during an election year with significant policy changes that didn't favour the industry. Her priorities included reconnecting with members and stakeholders after two years away from Queensland, and crucially, reopening dialogue with the previous government despite strong disagreements on coal royalties.

Janette noted the shift from a decadeslong bipartisan understanding of the resources sector's importance to the

current divisive ‘you're either for resources or against resources’ mindset, but was also optimistic about the new government's public support, such as Minister Last's comment about ‘heroes in high vis’ at the airport.

Creating real opportunities On mergers and acquisitions activity in the Bowen Basin, Janette’s perspective was sobering - companies are purchasing existing assets not for growth, but for insurance, as new project approvals remain extremely challenging. She called it ‘shuffling the names on the shirts’ rather than creating new opportunities.

Streamlining project approvals is being pushed as a critical priority. Janette outlined QRC's election gift to the new government - a comprehensive plan to cut duplication between state departments and federal processes while maintaining robust community consultation and regulatory oversight.

Internationally, while US tariffs on steel and aluminium have minimal direct impact on Queensland, the indirect effects on countries importing Australian metallurgical coal remain a concern. As Janette said, "We can't control what the US does, but we can control our own patch."

Fair returns for regions Still on royalties, Janette reiterated that regions hosting mining operations deserve a fair return. With close to $14 billion flowing from coal royalties alone last year, she argued for better regional infrastructure - not just hospitals and schools, but the doctors, nurses, and allied health professionals to staff them.

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SEASON 5 EPISODE 1

The decarb communication challenge On decarbonisation, Janette addressed the communication challenge facing the industry. Despite companies working on emissions reduction for over 15 years, including power generation from underground mines and fleet fuel switching, the industry struggles against activist voices with “megaphones.”

QRC's research of 1200 Queenslanders revealed that 69% understand the sector's economic importance, but only 48% view it favourably. The key to changing perceptions lies in better communicating decarbonisation efforts and environmental stewardship.

The conversation turned to Australia’s geopolitical importance in providing stable, affordable energy for regional partners who lack Australia's diverse energy options. Janette's recent visit to Vietnam provided insights into critical minerals competition, where emerging countries are pushing processing to extreme levels and moving further down value chains for profitability.

Her vision for Queensland? A strong strategic focus on scalable critical minerals while protecting the coal and LNG exports that underpin the state's financial foundation. This will take government support through power and water infrastructure, potential offtake agreements, and long-term thinking beyond the next election cycle.

The episode wrapped with Janette's quirky fact that clouds weigh around one million tonnes - though as she noted, "pity we can't export them."

Image: Hastings Deering

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SEASON 5 EPISODE 2 Fighting for the future of coal with Nick Jorss, Executive Chairman, Bowen Coking Coal and Founder, Coal Australia Nick Jorss, executive chairman of Bowen Coking Coal, non-executive chairman of Ballymore Resources and founder of Coal Australia, joined us in the Crib Room for a passionate discussion about the coal industry's struggles under the Queensland royalties regime. With Bowen Coking Coal currently fighting to save 500 jobs, Nick explained how the company paid $120 million in state royalties before making their first profit, highlighting the unsustainable nature of taxing revenue rather than profits. Is there a solution? We tackled this huge question, and more including: • What buying a coal mine for $1 actually means • The surprising (yet closely linked!) business that Nick is diversifying into • Which country we could be competing against for coal exports • The origin story of Coal Australia The royalties crisis Nick opened with stark honesty about catching him on a bad day – on the day of recording this podcast episode, Bowen Coking Coal had just gone into suspension while fighting to save 500 jobs in Central Queensland. His frustration was palpable as he described being "effectively poleaxed by the previous government's super royalties tax" just as they opened new operations.

The timing couldn't have been worse, as the company had just invested $340 million of shareholder and funder money in two projects.

The royalties regime has created an impossible situation where BCC paid $120 million in state royalties before making their first profit. This represents taxation on revenue rather than profit a fundamental problem when companies are investing heavily in startup costs and capital expenditure. Nick contrasted this with other jurisdictions: New South Wales operates under 11% royalties, British Columbia under 10%, while Queensland's punitive system can reach 40%, which is approximately four times the global average.

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Nick's proposed solution involves adjusting thresholds upward to account for inflation and bracket creep, ensuring companies aren't paying super royalty rates while losing money, similar to Alberta, Canada's model where new mines pay just 1% royalties until capital is recovered, then return to normal rates. The current system leaves 20% of coal permanently sterilised in the ground because extraction becomes uneconomical under the tax burden.

The great Queensland giveaway The conversation revealed the broader economic absurdity: $5 billion of Queensland's coal royalty revenue gets redistributed to Victoria and New South Wales through the Federal Grants Commission, effectively taking money from Central Queensland coal communities to fund southern state budget deficits. This redistribution occurs while regional Queensland desperately needs infrastructure investment and job security.

Serbia to Stanmore – the $1 mine story Moving on, it was interesting to learn that Nick's international perspective came from his work with Constantin Resources in Serbia, where the government take is significantly lower despite bureaucratic challenges. Serbia represents "the land that time forgot" since Roman times, with unexplored gold deposits due to communist-era policies that discouraged mineral wealth accumulation. The discovery of a Roman smelter on their ground provided both historical intrigue and a dose of Nick's dry humour about recommissioning ancient infrastructure!

We dug into the famous $1 mine purchase story, all about Nick's entrepreneurial journey from kitchen table startup to ASX success. Stanmore Coal began in 2009, doubling on the first day of trading from 20 to 40 cents, eventually reaching $1.50 before market conditions drove it down to 4 cents.

The Isaac Plains acquisition came at the perfect time when major miners were divesting surplus assets, coinciding with coal prices rising from $87 to $300 per tonne within months.

Giving the industry its voice Naturally, we congratulated Nick and the team on the launch of Coal Australia. This new advocacy enterprise has emerged from Nick's frustration with industry treatment and the need to give coal workers pride in their profession.

The organisation has quickly grown to over 80,000 supporters, providing a platform for people to discuss their coal industry careers openly, and positioning coal unequivocally as a critical mineral.

Coal Australia's mission extends beyond advocacy to storytelling, collecting narratives from industry workers across generations to humanise an increasingly demonised sector. The organisation gives people the tools to confidently discuss their industry contributions at social gatherings, armed with facts about coal's role in Queensland's prosperity.

Competing with Australia’s natural advantages Looking internationally, Nick sees America's policy shift under Trump as potentially game-changing for global coal markets. While Trump embraces "beautiful coal" and lists it as a critical mineral, Australia constrains its own industry through taxes and approvals processes. This creates opportunities for competitors like Canada and the US to capture Australian market share.

The conversation highlighted fundamental policy contradictions. For example, Australia exports energy while maintaining some of the world's highest domestic energy costs, hamstringing manufacturing competitiveness and driving cost-of-living pressures. Nick's vision involves competing on Australia's natural energy advantage rather than attempting to match Asian labour costs.

At the end of the day, policy change only happens with grassroots advocacy from workers and communities who understand coal's economic importance.

Coal Australia provides the platform; the industry must find its voice to secure its future in an increasingly challenging regulatory environment.

SEASON 5 EPISODE 3

We had a great conversation with Tim Strong, CEO of Waterline Projects, who shared his journey from farm kid dreaming of big machinery to leading an engineering consultancy in Queensland's resources sector. We talked about: • Leadership through trust and transparency • Innovation challenges in mining • Talent pipeline crisis • Industry advocacy and perception Leadership lessons from the ground up Tim's leadership philosophy stems from two early career lessons: a leader who trusted 99% of people and dealt with the other 1% as needed, and a GM who always came to Tim's office rather than summoning him. This, along with a passion for mechanical engineering, born on the family farm, shaped Waterline's

Small wins, not ‘Hail Marys’ Tim talked about mining's tendency to be followers rather than first movers due to high regulation and risk. He advocates for "small i" innovation - incremental improvements rather than "Hail Mary" solutions. He sees the industry's biggest trap as cutting future capabilities when prices tighten, particularly apprenticeships, only to face skilled trades shortages when prices recover.

The Olympics talent threat The 2032 Olympics represents a serious talent threat, creating six years of competing construction demand.

Tim noted that timeline exceeds most people's job tenure nowadays, meaning mining can no longer rely on outbidding other industries for workers.

Waterline's strategy focuses on engaging undergraduates in first or second year rather than waiting for graduates,

achieving much higher retention rates.

Tim's alarm bells went off when his son wrote about "an unemployed mining engineer" for English class, highlighting perception challenges among young people. Looking forward, Tim identified "people" as coal's biggest long-term challenge - specifically people willing to champion the industry – as he said – we need more advocates like Nick Jorss.

Mining – a team sport Tim’s ideal view of mining is that it needs to become a "team sport" where everyone advocates for the industry, sharing pride with children and friends.

Without this collective effort, Tim warned, "we're a dead duck in the water."

Because the energy transition actually requires more mining, not less, to provide materials for new technologies, the challenge is communicating these technical details beyond social media character limits to create public understanding before it takes power outages or redundancies to generate that "a-ha moment."

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Trust, innovation and mining’s ‘People Challenge’ with Tim Strong, Chief Executive Officer, Waterline Projects

approach of going to clients on their ground - literally boots on the ground in the Bowen Basin rather than city offices.

SEASON 5 EPISODE 4 Exploration, Innovation and Coal’s Critical Future with Caoilin Chestnutt, Executive Geologist, Deputy Chair, QEC and Board Director, PACGold Caoilín joined us for an exhilarating chat, sharing her remarkable journey from accidentally enrolling in geology at Trinity College, Dublin to becoming a trailblazer in Australia’s mining sector. The conversation covered: • The similarities and differences between commodity cycles • Changing social perceptions of met coal, and how LNGs history can help • The exploration sector crisis • Innovations in exploration, including bioprospecting When Caoilin turned up for her first day at Trinity College Dublin expecting to study zoology, she got a shock. Due to an administrative mix-up she'd been enrolled in geology instead. "I turned up on the first day thinking 'Here I am in zoology,' and then suddenly they started talking about rocks."

That happy accident launched a 30year career spanning gold exploration in Western Australia's goldfields, coal seam gas projects in Queensland, and senior roles across the global mining industry. Today, as deputy chair of the Queensland Exploration Council and a board member of APAC Gold, Chestnutt brings sharp strategic insight to the challenges facing Queensland's resources sector.

From Ireland to the goldfields With unemployment for geologists in Ireland sitting at nearly 90% in the early 1990s, Caoilin took a working holiday visa to Australia, hoping to fund some diving trips. After a few casual jobs, "I eventually got a job because they thought my name was Colin, and they thought he would do a pretty good job lugging sample bags around the WA goldfields," she says.

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The shock at the small exploration camp was considerable. "It wasn't really female friendly," she admits. "I remember calling and asking what I needed to bring, and the answer was just 'a good liver.' I think I was light entertainment for the first few months."

Commodities: more similar than different Having worked across gold, coal, and oil and gas, Chestnutt sees more similarities than differences between commodities. "Exploration is essentially about reducing the search space, and the discovery workflow is much the same regardless of what commodity you're looking at," she explains. "You start with regional screening, target generation, target testing, resource estimation. The fundamentals stay the same."

Where they diverge is in scale and market dynamics. Critical minerals and energy transition metals offer more price stability. "Take copper. If you look at pricing over time, it's almost steady.

Short-term volatility, but fairly steady on a macro basis." Coal, particularly thermal coal, faces structural decline with sharper cyclicality. "Metals price cycles are probably eight to 15 years.

Coal is probably three to seven."

The difference comes down to substitution risk and discovery timelines. Coal has abundant known resources globally, making it faster to respond to demand. But those big copper discoveries? "We haven't made a mammoth copper discovery in a long time. We've probably made three over three million tonnes of contained copper in the last decade. It's not enough."

Met coal's critical moment The recent US designation of metallurgical coal as a critical mineral validates what Queensland has been saying for years. "There is only one way to make steel that's economically viable and at scale, and that's a blast furnace. You still need met coal," Caoilin states. "To me, met coal is essential for the energy transition, whether it's to build renewables or solar panels. In anybody's books, Queensland met coal assets are world class."

Lessons from gas Caoilin’s experiences in coal seam gas during the late 2000s offers instructive parallels for coal's current challenges. Working on Arrow Energy's CSG projects after years in conventional gas, she encountered

The turnaround came through coordinated action. "Governments, landholders and operators all worked together to get on the front foot.

That drove regulatory reform," she explains. Independent bodies like the Gas Commission and Office of Groundwater Impact Assessment provided science-based oversight that rebuilt public confidence. "Data sharing was big. Infrastructure sharing was better. Unified industry voices really coordinated that messaging."

Coal, by contrast, "feels much more fragmented" despite excellent work by industry bodies. "You need a unified science-based coalition that really manages and reframes coal's narrative around responsibility, the criticality of steel, reclamation success, and what that future mine looks like."

The changing ownership landscape The trend of major miners exiting coal is accelerating, with Queensland already about 10 years into the shift. Rio Tinto, Anglo American and South32 have all divested coal assets, while BHP and Glencore are running down portfolios.

"The smaller players have lower ESG constraints and they're not under the same global investor scrutiny," she observes.

She's seeing more funds and private equity from Southeast Asia and India, where billions lack reliable power. "Tier 2 miners like Stanmore, Peabody, Yancoal, Whitehaven and Pembroke Resources are emerging as dominant players, while even smaller operations are becoming viable. Queensland's met coal assets sit well on the margin curve. If it's a Tier 1 type asset, you will survive."

Exploration’s next frontiers Discussing ‘what’s next’, Caoilin noted, "Statistically, it's about one in 1,600 drilling campaigns that results in a meaningful discovery. And apart from any other initiative, you need to get

on the ground and drill a hole to prove up your concept. Otherwise, it's arm waving."

While AI-driven discovery and satellite prospecting are valuable, Caoilin is particularly excited about bioprospecting. "Certain plants and microbes accumulate metals within their tissues. They're great indicators of deep mineral bodies." Companies are using microbes to increase copper and lithium recovery rates, making previously uneconomic resources viable. They naturally facilitate the leaching process.

You're ultimately transforming the way you extract metals."

For someone who accidentally fell into geology while hoping to study animals, Caoilin has maintained her fascination with living things. But it's her cleareyed view of mining's challenges and opportunities that makes her perspective invaluable as Queensland's resources sector navigates significant change. 

WITH YOU THEN,

WITH YOU NOW. For over a century, KAESER has been more than a manufacturer. From Germany to Australia, our commitment to you has never changed. In 2025, KAESER Australia celebrated 35 years of serving the mining industry, and we couldn’t be prouder. At KAESER, we have your back. au.kaeser.com

YEARS IN AUSTRALIA

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fierce community opposition fuelled by misinformation. "There was huge animosity. We were supposedly stealing water from the Artesian Basin, destroying property. Gas apparently bubbling out of people's water bores. It was pretty horrific."

Together, we're building stronger networks, amplifying our collective voice, and ensuring that Australian coal continues to play its essential role in powering prosperity at home and abroad.

Expanding horizons: The Hunter Mining Club launches

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n May 2025, the Bowen Basin Mining Club proudly witnessed the official launch of its sister organisation, the Hunter Mining Club, marking a significant milestone in strengthening connections across Australia's premier coal-producing regions.

For BBMC members, the establishment of the HMC represents far more than a simple networking expansion - it opens new pathways for collaboration, creates opportunities for cross-state engagement, and reinforces the collective voice of Australia's coal industry at a time when unity has never been more critical.

The Hunter Mining Club launch event on 14 May 2025, held at Singleton Diggers in the heart of New South Wales coal country, welcomed over 200 industry representatives in a soldout luncheon that mirrored the successful formula BBMC has refined over the last 15 years in Queensland. From contractors to METS companies and mining houses, the gathering reflected the breadth and depth of the Hunter region’s mining ecosystem - an ecosystem that shares remarkable similarities with the Bowen Basin in its challenges, opportunities, and commitment to the future of Australian coal.

As Director Jodie Currie explained, the Hunter expansion was strategic and over a decade in the making. "I truly believe that the establishment of the Hunter Mining Club will help to build a platform for supplier and mining companies alike to network, collaborate and advocate together for the future of our industry," Currie said. The inaugural event's focus on industry unity and collaboration set a strong foundation for what this new forum aims to achieve.

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Inaugural guest speakers Stephen Galilee of the NSW Minerals Council and Cris Shadbolt, General Manager at Yancoal's Mount Thorley Warkworth operation, delivered compelling insights into the challenges and opportunities facing the coal sector.

Their presentations addressed navigating complex regulatory environments, managing the narrative around energy transition, demonstrating mining's community value, and maintaining operational excellence amid legislative uncertainty.

Galilee's remarks about coal's enduring role in global energy markets were unequivocal. "The last two years have been record years for global coal production and consumption," he noted, adding that New South Wales coal exports are rising year-onyear to near-historic levels, with employment at record highs.

His perspective on the pace of energy transition emphasised that "coal-fired power will be here for a bit longer than most people expect - there's more to come for the industry."

The policy challenges he outlined, however, illustrated the complexity facing coal operators across the country. The inconsistency between Commonwealth and state targets, with different timeframes and accounting frameworks, creates what Galilee aptly described as "a shooting contest, where everyone's shooting at different targets and trying to get to the same score." Projects in the planning system are dealing with these issues in real-time, with coal mining jobs potentially sacrificed based on accounting frameworks that are inaccurate and inconsistent.

Galilee also explained the complexity of the Biodiversity Offset Scheme - seven pieces of legislation totaling over 1,000 pages, accompanied by 50 separate scheme guidelines (another 2,000 pages), plus 30 separate websites or portals to navigate for compliance, all changing as often as every three months. "Projects in the planning pipeline are often unable to keep up with this compliance requirement," he said, noting it's not just a problem for coal but for the renewable sector as well, making large infrastructure projects potentially uneconomic in New South Wales.

"The industry is doing a stellar job to really meet what we all see as pretty tough conditions being put on us," Foster noted. With Mount Arthur announcing closure by 2030 and most Hunter region operations concluding by the mid-2030s, the HVO Continuation Project represents critical economic continuity for the region, maintaining 1,500 ongoing jobs while generating 600 additional construction positions.

His presentation reinforced the importance of celebrating what the industry does well.

"What we don't see and hear about are all the great things the mining industry does for communities, financial investment and the development of our people," Shadbolt said. "We build leaders from the ground up who understand risk and opportunities, and who grow into meaningful leaders in our communities and the country."

Foster emphasised the strength of global demand, noting that "coal exports remain very strong" and expressing confidence that the coal market will remain robust as "the world needs coal to assist in the energy transition and will for at least the next 20 years."

Mount Thorley Warkworth's impressive contributions illustrate this point: $850,000 in sponsorships and donations to local organisations since 2017, a direct economic contribution to the Hunter region of $334 million in 2024 and indirectly generating over 12,000 jobs with wages of almost $1 billion.

"This changes the face of a community – and is something to be celebrated and leveraged for responsible, productive and future-focused mining," Shadbolt said.

His vision for the future was clear: "The Hunter region has the expertise, experience and commitment from its people to lead this change and to set the benchmark for responsible, productive and future-focused mining." He recognised that forums like the HMC "provide opportunities for the industry to adapt, change and collaborate", a principle that extends well beyond New South Wales borders.

The HMC's September follow-up event demonstrated the sustained appetite for industry collaboration, drawing over 240 attendees. Hunter Valley Operation’s General Manager David Foster's presentation on the HVO Continuation Project illustrated the challenging regulatory environment operators face. The project has evolved through extensive consultation with government bodies, with recent amendments reducing mine life from 2050 to 2045 and removing over 220 million tonnes of coal production, resulting in a 43% reduction in Scope 1 emissions.

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These policy and legislative levers affect companies at all levels of the mining industry supply chain, from coal output right through to the employment and community contributions discussed by Cris Shadbolt.

As cost recovery ratios across the industry become narrower with unpredictable coal prices, Shadbolt reminded the gathering that "we all have a vested interest to ensure that our industry can continue to operate."

For BBMC members looking ahead, the HMC offers another avenue for strengthening relationships, broadening perspectives, and contributing to the collective success of Australian coal. Whether attending HMC events in person, engaging with colleagues through expanded networks, or staying informed about developments in New South Wales' coal sector, Queensland industry professionals now have enhanced tools for building the connections that drive innovation, efficiency, and prosperity across the nation's coal communities.

The launch of the Hunter Mining Club is a milestone for Australian coal, and a testament to the enduring value of bringing industry together to share insights, celebrate achievements, and advocate for a strong and sustainable future. For BBMC members, it represents the expansion of opportunity, the strengthening of industry unity, and the continued growth of the collaborative spirit that makes organisations like the BBMC and HMC so vital to the Australian mining sector.

Together, we're building stronger networks, amplifying our collective voice, and ensuring that Australian coal continues to play its essential role in powering prosperity at home and abroad. 

Join the HMC to be part of our 2026 events.

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Environment environment and and Rehabilitation rehabilitation

Image: Farmer Michael Kucks says his cattle can be hard to find sometimes because the grass is so high on rehabilitated land at Dawson Mine.

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Dawson Mine — progressive rehabilitation for productive grazing Jason Fittler, Environmental Manager Anglo American

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once-mined Central Queensland landscape is now thriving as productive grazing country - proof responsible mining and sustainable land use can co-exist.

Seeing contentedly grazing cattle amid waist-high grass where draglines once crisscrossed the landscape is the culmination of persistence, learning and teamwork over many years.

Rehabilitated land is always a long game – something we plan for early, commit to fully and measure over decades rather than years.

At Dawson Mine, that commitment has paid off, with 82 hectares now formally certified for progressive rehabilitation under Queensland’s Environmental Protection Act.

It is the first of Anglo American’s steelmaking coal operations in the Bowen Basin to reach this point, a significant milestone showing mined land can be responsibly restored for future agricultural use.

It is an achievement built on persistence, technical expertise and collaboration – an important step for both our company and the wider industry.

A decade of commitment Our journey began in 2012, with a long-term vision to return mined land to a productive state.

Moura remains a vital agricultural centre for the region – and that legacy has shaped our rehabilitation approach.

It is a generational commitment – planned early and executed with technical precision - and it is incredibly rewarding to see the land thriving again – this time as productive grazing country.

The process to achieve certification involved reshaping the land, returning carefully stockpiled topsoil rich in native seed banks and beneficial micro-organisms, and then sowing grass seed as ground cover to prevent erosion and provide food for grazing animals.

We also established reliable water sources to ensure the land remains useful and productive after mining.

The certification process through Queensland’s environmental regulator – the Department of Environment, Tourism, Science and Innovation – involved rigorous monitoring and maintenance activities, demonstrating the critical role of land stewardship in achieving successful rehabilitation outcomes.

This milestone is a testament to the dedication and expertise of everyone involved – from those who took the first steps more than a decade ago to the teams conducting grazing trials, monitoring progress and weed maintenance.

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Lessons from the ground Achieving certified rehabilitation was never a straight line, with Dawson Mine’s journey offering valuable lessons in balancing technical rigour with realworld land use.

Image: Property agistee Michael Kucks and Anglo American environmental specialist Larry Hantler on the rehabilitated land at Dawson Mine.

While the grazing trial proved ultimately successful, we had to carefully manage cattle carrying capacity in the early stages because of the age and susceptibility of the rehabilitation.

During the 2018-19 drought, cattle were temporarily removed to protect groundcover and we worked closely with the landholder to provide agistment options.

We also encountered differing expectations between regulators and graziers, with farmers eager to explore the land’s potential, including during dry spells.

Navigating differing perspectives and expectations required ongoing dialogue, transparency and a shared vision on long-term land use outcomes.

Image: Rural property specialist Peter Watkins, Anglo American environmental specialist Larry Hantler and property agistee Michael Kucks on the rehabilitated land at Dawson Mine discussing the types and quality of grasses in the area.

From mine to pasture Today, the certified area now supports cattle grazing, with up to 135 head on the agisted land near the Central Queensland communities of Moura, Banana and Theodore.

Grazing trials with local farmer Michael Kucks, from MNK Kucks Pastoral, have shown impressive results.

“Some of the land is better than it was before mining,” he said. “The cattle are hard to find sometimes, the grass is too long. A paddock full of grass like that - any grazier is happy to see it.”

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Seeing contentedly grazing cattle amid waist-high grass where draglines once criss-crossed the landscape feels like the culmination of persistence, learning and teamwork over many years.

Cattle grazing trials provided clear evidence of the land’s productivity, reinforcing its agricultural potential to the regulator and stakeholders.

It is a significant step forward in building trust with our communities. Ultimately, the land will return to them, so it is important we demonstrate responsible stewardship while the mine is the custodian.

Stewardship and trust Dawson Mine’s success is just the beginning. We continue to seek opportunities to reinforce our commitment to sustainable mining and positive environmental outcomes on the lands where we operate.

We are already progressing similar work across our operations, with many of our rehabilitation areas in the monitoring and maintenance phase.

While each mine presents different rehabilitation challenges, from subsidence on underground longwall panels to former tailings facilities, the principles and processes are consistent.

We intend to progress these areas to certification once we have more data and have been through further wet and dry climate cycles.

Rehabilitation begins well before mining starts - at the early exploration phase - and continues until the land is restored.

Dawson Mine’s certification is proof that with the right planning, technical rigour and long-term commitment, mining and sustainable land use can not only co-exist, but thrive together. 

Image: Cattle moving down to the water’s edge late in the afternoon for a drink, showing trails through the grass as the grass is so high and thick on rehabilitated land at Dawson Mine.

Image: Dawson Mine environmental superintendent Sam Davis inspecting vigorous growth of a highly nutritious butterfly pea climbing up a eucalypt on rehabilitated land at Dawson Mine.

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After 20 years at Anglo American, for me, this certification is less about celebrating and more about the confidence it brings – confidence the methods we are using are effective, scalable and aligned with community expectations.

Balancing emissions and practical climate action in the resources sector Melanie Saul, Manager Sustainability Kestrel Coal

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n Australia’s resources sector, few topics attract as much scrutiny, or as much complexity, as greenhouse gas emissions. The mining industry sits at the intersection of two realities: we are an energy-intensive business by nature, yet we are also among the most capable at driving large-scale, technology-based emissions reduction.

Navigating this tension requires not ideology, but pragmatism; a balanced approach that recognises both operational realities and the need for continuous improvement.

Electricity, diesel and fugitive emissions from coal seams are all intrinsic parts of resource extraction. These emissions cannot simply be switched off. The challenge, therefore, is not one of absolutes – ‘emit or don’t emit’, but one of continual evolution: how do we reduce our footprint while maintaining the energy security and economic contribution on which regional Australia depends?

The most credible pathway forward is one built on practical decarbonisation.

Focusing on measurable, technically achievable reductions that complement, rather than compromise, productivity. In this context, the conversation must shift from ‘net zero at any cost’ to ‘net progress through innovation.’

One of the most meaningful levers a mining operation can pull is the source of its energy. Many remote mining operations have historically relied on grid electricity or diesel generation, both of which can be costly and carbon-intensive.

Increasingly, miners are reevaluating this dependence,

seeking to generate power on-site through hybrid energy systems that integrate renewables, gas, and battery storage.

Coal mine waste gas-fired generation uses the full value of the gas as a reliable transitional solution. It provides energy stability, reduces exposure to grid volatility, and delivers a substantial reduction in carbon intensity compared to the current emissions intensity of the electricity grid. It maximises the full value of this gas for flexible, lower-carbon generation without compromising operational uptime.

The most forward-thinking operators are taking this one step further, developing energy precincts where waste heat recovery, efficient load balancing and renewable integration are built into the mine’s lifecycle from the start. The result is a power model that is both resourceand cost-effective, as well as cleaner.

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Image: Kestrel Coal

Across the coal mining industry, the fugitive methane released from gassy mines is the most significant source of emissions.

Methane released during the coal extraction process, especially ventilation air methane (VAM), is a potent greenhouse gas with a global warming potential more than 28 times that of carbon dioxide.

Until recently, VAM was considered too diluted to effectively capture or reduce carbon dioxide. But the use of regenerative thermal oxidation technology has changed that equation.

Thermal oxidation systems are now being used to destroy methane in ventilation streams, converting it into less harmful carbon dioxide and water vapour.

The future will not be shaped by ideological extremes, but by steady, measurable progress, one project, one innovation, one emissions source at a time.

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A VAM abatement project of this kind is a landmark initiative in any mining operation. It demonstrates the capability of the sector to reduce emissions from one of its most challenging sources.

The potential scale of impact is considerable, at up to 4% of Australia’s total emissions.

However, implementing such projects requires significant investment, engineering integration, and regulatory collaboration. These systems must be designed to align with ventilation controls and meet both safety and environmental compliance standards. That makes them not a ‘tick-box’ exercise in ESG, but a true demonstration of operational innovation.

Much of the public debate around climate change has become polarised, oscillating between calls for rapid decarbonisation and resistance to change altogether. But the most sustainable path forward for mining lies in the middle - acknowledging the scale of the challenge, committing to credible reductions, and doing so in a way that is both economically and technically viable.

A conservative approach does not mean inaction. It means discipline. It means investing in technologies that work now, not those that might work in 2050. It means focusing on real emissions reductions, through methane oxidation, energy efficiency, electrification of fleets where feasible, and gradual integration of renewables, rather than relying solely on offsets or external schemes to do the heavy lifting.

It also means recognising the broader sustainability equation. Mines are not just sources of emissions, they are employers, taxpayers, infrastructure builders and contributors to regional economies. Genuine climate leadership must balance environmental responsibility with energy reliability and social stability.

The resources sector has already shown that it can lead through action. Across Queensland and New South Wales, operations have coal mine waste gas power generation, pilot batteryhybrid power systems, and are testing the electrification of surface and underground equipment. The outcomes are tangible in measurable emissions reductions, enhanced energy resilience, and new capabilities built within regional workforces.

The key to maintaining momentum lies in transparency and pragmatism.

Targets must be sciencebased and achievable. And every investment in emissions reduction should create operational or community value.

This is where the mining industry’s traditional strengths of engineering precision, project discipline, and long-term planning come to the fore. These attributes make the sector uniquely positioned to deliver practical climate outcomes that endure beyond corporate cycles or policy swings.

As the world debates the pace and scope of decarbonisation, the resources sector has an opportunity to demonstrate what pragmatic climate action looks like in practice. The future will not be shaped by ideological extremes, but by steady, measurable progress, one project, one innovation, one emissions source at a time.

Through responsible energy generation, methane abatement, and disciplined investment in proven technology, mining can continue to underpin Australia’s energy transition while delivering real environmental gains. The task is not to choose between emissions and progress, but to find the balance that makes both possible . 

Environment and rehabilitation

Reimagining rehabilitation Unlocking economic potential through post-mining land use Jodie Thompson, Diversification Lead Greater Whitsunday Alliance

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he Bowen Basin is known for what we’ve extracted from the ground. But what if its greatest value is still to be realised from what we put back in?

When I think of the Bowen Basin, a deep sense of pride washes over me. I know it’s the same for countless others who are incredibly proud of their contributions to mining, whether that’s through supporting their families, powering economies, or helping to raise the living standards of people across the globe. That’s the legacy of metallurgical coal mining.

Honouring a legacy, shaping a future Now, the region is turning its attention to what comes next - the transformation of post-mining landscapes into engines of future prosperity.

As we progress towards peak mine closure periods and global decarbonisation

pressures intensify, the Greater Whitsunday region is stepping forward with a bold, opportunity-led vision for post-mining land use (PMLU).

We’re thinking more than rehabilitation and reimagining what’s possible.

A prospectus for possibility Developed by Greater Whitsunday Alliance (GW3), the Resources Centre of Excellence (RCOE), and Isaac Regional Council, the Reimagine Rehab prospectus positions the region as a national leader in transformative mine rehabilitation. It reframes rehabilitation from a regulatory obligation to a strategic economic development opportunity and one that can unlock new industries, attract investment, and sustains thriving communities.

The prospectus identifies high-value opportunities, specific to Greater Whitsunday’s strengths, in: • Minerals reprocessing: extracting residual value from tailings and waste.

• Agriculture and aquaculture: repurposing land and water for food production.

• Mine water reuse: turning a liability into a resource for industry and community.

While there have been some innovative ideas and ambitious proposals for post-mining land use, we believe playing to the region’s strengths will maximise economic development outcomes and contribute to enduring prosperity.

Why here? Why now?

collaborative development of the Regional Water Strategy have helped create a vision of how we can transition legacy mining lands into productive, sustainable assets.

Encompassing Mackay, Isaac, and Whitsunday LGAs, the region is uniquely positioned to lead this transformation, boasting: • A skilled workforce with deep mining and engineering expertise.

While metallurgical coal is expected to maintain its demand for decades, due in part to the high quality and significant volumes of regional Queensland coal, we are mindful of economic reliance on the resources sector and the exposure to both risks and opportunities.

• Robust infrastructure including transport, energy, and water networks.

The Greater Whitsunday Region has been laying the groundwork for a new chapter for many years now; one where post-mining landscapes are reimagined as catalysts for economic and environmental renewal.

The Greater Whitsunday METS Sector Revenue Diversification Strategy, released last year, laid the groundwork for this shift, identifying PMLU as one of seven emerging sectors that align with the skills and capabilities of the region.

Now, Reimagine Rehab builds on that motion, offering a roadmap for turning concept into commercial reality.

Proactive involvement in initiatives such as the CRC TiME Bowen Basin Hub, EnviroMETS Lighthouse Projects 1 and 2, and

• A growing innovation ecosystem, anchored

by RCOE, the Future Industries Hub Flexilab, and the Isaac Resources Excellence Precinct (IREP).

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Image: Hoods Lagoon Clermont

The size of the opportunity By 2030, post-mining land use is projected to be an $8 billion industry.

The Bowen Basin is in the driver’s seat, but success will require more than vision.

It will demand collaboration, investment, and bold leadership.

Reimagine Rehab calls on mining companies to engage differently: to see rehabilitation not as a cost centre, but as a platform for innovation. It also invites government to align policy and funding with regional strengths. And it empowers communities to shape their own futures where mining legacy is honoured, and new industries flourish.

To realise this opportunity, regions like the Greater Whitsunday must position themselves not just as rehabilitationready, but as investment-ready. That means showcasing capability, aligning infrastructure with future industry needs, and creating a clear pathway for private and public sector collaboration.

Reimagine Rehab offers a strategic framework to attract capital, enable innovation, and ensure post-mining land becomes a driver of long-term regional prosperity.

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Thriving communities, sustainable futures This region’s legacy is written in both coal and in the lives of the people who call it home. From the families who’ve built their futures here to the Traditional Owners whose deep connection to Country spans generations, the Greater Whitsunday is more than an economic engine, it’s a place of belonging.

As we shape the future of post-mining land use, we must honour that legacy by creating opportunities that reflect the region’s values: connection, contribution, and care for the land that sustains us.

PMLU must support and enhance these values and that means: • protecting and integrating high-value agricultural operations; • creating jobs that sustain families and communities; • and supporting adjacent and emerging sectors like energy, biomanufacturing, and advanced manufacturing.

It also means engaging respectfully with First Nations peoples, whose connection to land and water offers vital insights into sustainable land use and stewardship.

Looking ahead The Bowen Basin has always been a powerhouse and, moving forward, has the potential to be a beacon of innovation, demonstrating how mine rehabilitation can drive economic diversification, environmental resilience, and community prosperity.

More than just a prospectus, Reimagine Rehab is a promise that the legacy of mining will not end in closure, but continue in transformation.

The Greater Whitsunday PMLU Working Group, recently established to guide and action the Reimagine Rehab initiative, is playing a pivotal role in identifying, assessing, and progressing commercially viable projects. With a focus on minerals reprocessing, agriculture and aquaculture, and mine water reuse, the group aims to develop compelling investment cases that move ideas from concept to commercial reality.

This is a moment of transformation that brings with it tremendous possibilities.

The Greater Whitsunday Region is ready to lead with the right partnerships, policies, and vision. And the Bowen Basin’s next chapter could be its most impactful yet. 

Responsibly sourcing the commodities that advance everyday life.

Find out more at glencore.com.au BBMC Yearbook 2025

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New purpose for Newlands John Watson, Director of Environment and Community Glencore Coal Australia

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hen mining at Newlands Coal came to a planned close in 2023, it marked more than the end of four decades of production. It signalled the beginning of a new purpose for the site. With mining complete and the workforce redirected toward closure and rehabilitation, Newlands has successfully transitioned into a large-scale land rehabilitation and closure project.

The Queensland Government has now certified 614 hectares of rehabilitated land at Newlands, confirming that the completed rehabilitation is stable, self-sustaining and suitable for the agreed post mining land uses of grazing and native woodland. This certification is the strongest indication yet that the site’s long-term planning and investment are delivering industry-leading rehabilitation outcomes at scale.

is possible. Mined land can be successfully rehabilitated to meet all agreed criteria and provide productive outcomes long after mining has finished.”

Newlands operates under a single Environmental Authority supported by a detailed Environmental Management System that covers the full life of the mine. This framework sets out how land is disturbed, shaped, managed and eventually returned to its future land use. Annual rehabilitation and closure planning allowed the team to sequence work in a logical way and manage risks early, long before the end of mining.

Due to this proactive approach Newlands had already rehabilitated more than 3,000 hectares by the time mining ceased. By 2030, more than 8,500 hectares will have been rehabilitated across the site.

A workforce reoriented for the future In April 2023, the Newlands workforce moved from active mining into rehabilitation and closure roles. Machine operators, engineers, environmental officers and support teams were reassigned to focus on landform shaping, topsoil management, water controls and vegetation establishment.

For Newlands Environment and Community Manager Craig Bushell, the certification represents more than a number.

In 2024 alone, Newlands invested more than $234 million in rehabilitation and closure works. This included reshaping large areas of overburden, placing topsoil and seeding 637 hectares of land for grazing and native woodland.

“Newlands has entered a new chapter, with mining now complete and meeting the agreed rehabilitation outcomes the sole focus. The certification process demonstrates what

The result is a rehabilitation program that is not just active, but adequately resourced, planned and supported by people who know the land intimately.

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Certification as the definitive marker of success

The future land use for Newlands reflects the landscape that existed long before mining began. The region around Glenden has long been cattle country, with large areas of native and improved pasture.

Certification is the regulatory confirmation that rehabilitated land meets all completion criteria.

Certification requires detailed evidence of landform stability, successful vegetation establishment, functioning drainage systems and clear suitability for the approved post mining land use.

Around 70% of the site is planned to return to grazing. The rest will become native woodland that supports regional biodiversity and blends the rehabilitated areas into the surrounding environment.

Delivering these outcomes requires detailed technical work, from reshaping overburden into stable landforms and constructing contour banks and rock chutes for water management, through to placing and conditioning topsoil, applying appropriate soil treatments and establishing vegetation suited to either grazing or woodland use.

More than 32 seed species are used across the site, including Eucalyptus and Acacia species for woodland areas and a mix of native and introduced grasses for pasture.

With 614 hectares now certified at Newlands, the site has delivered one of the largest single certifications in recent years. For Glencore, the milestone highlights the value of progressive rehabilitation and confirms that the long-term planning and investment at Newlands are translating into real, certifiable outcomes on the ground.

These results are a clear demonstration of the investment and effort our teams put into rehabilitation throughout the life of our mines. They give confidence that once mined land can be rehabilitated to meet strict criteria and returned to agreed post mining uses.

As more of the landscape is shaped, seeded and monitored, the visual character of Newlands is changing.

Areas that once contained active mining equipment are now grassing

up, stabilising and drawing closer to the point where they can be utilised as productive pasture or native woodland.

It is a gradual but meaningful transformation, shaped by planning, investment and a clear understanding of what the land needs to be in the future.

A blueprint for closure done well Across Australia, more mines are approaching the end of their operational lives. Communities, regulators and industry are focused on what responsible closure looks like and how land can be returned to agreed post mining land uses.

Newlands offers a clear example. It shows that when closure is planned, integrated into operations and treated as a core business activity rather than an afterthought, the outcomes are well managed, measurable and capable of meeting strict regulatory expectations.

The mine’s legacy is now taking shape not in the tonnes it once produced, but in the hectares of land that are being carefully prepared for future generations. It is a story still unfolding, but the foundations are strong: thoughtful planning, sustained investment and a commitment to returning land to productive and sustainable use. 

It is a gradual but meaningful transformation, shaped by planning, investment and a clear understanding of what the land needs to be in the future.

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Rehabilitating for the land uses that matter

Extracting the value of coal seam gas Madeline Simpson, Tom Reaburn and Emily Collins McCullough Robertson

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s coal mine owners continually seek to add more decarbonisation strategies to their portfolios, coal seam gas (CSG) remains an attractive commodity for further reducing greenhouse gas emissions. For those already exploring this opportunity, getting compliance right matters.

There are a myriad of issues to work through when coal mine owners consider the commercial opportunities arising from the extraction of CSG. These include understanding what CSG may be used for, the types of approvals required, which statutory safety regime applies, and what it means for overlapping tenements and any contractual arrangements.

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Who has the rights to mine CSG? De-gassing in advance of mining may be required where a coal seam contains high levels of methane; in this context the presence of CSG can be a significant safety hazard. Depending on the amount of CSG present, there may be an opportunity to commercialise that gas.

Under the Mineral Resources Act 1989 (Qld), a coal miner is authorised to extract CSG if the mining is necessary: • as a result of mining carried out under the coal mining lease (ML); or • to ensure a safe working environment for coal or oil shale mining under the coal ML; or • to minimise the fugitive emission of methane during coal mining operations.

This is known as Incidental CSG (ICSG).

What can ICSG be used for under a mining lease?

Under a coal ML, the ICSG can be supplied or sold to another entity, used to generate power to supply another entity,

used beneficially or for an authorised activity under another resource authority, and processed, stored or transported within the area of the coal ML to facilitate another approved use.

Importantly, flaring of the ICSG is only permitted in limited circumstances, and where it is not commercially or technically feasible to use it beneficially for mining under the coal ML. What are the limits on the rights to commercialise ICSG? There are limitations on the rights to commercialise ICSG. Older MLs that overlap with petroleum tenements may not permit the sale of ICSG at all. In addition, MLs may be required to first offer ICSG within their tenements to a holder of an overlapping authority to prospect or petroleum lease.

Understanding the impact of legislative restrictions on the commercialisation of ICSG will be critical in making an informed commercial decision regarding the extraction and use of ICSG. The rights of a coal ML holder to ICSG may also

Image: Turnbull Photography

be impacted by contractual arrangements that exist between the coal mine owner and any overlapping tenement holder, including the terms of any CoDevelopment Agreement. It is not uncommon for historical Co-Development Agreements to seek to restrict the coal ML holder’s ability to commercialise ICSG. Is the ICSG extraction authorised under existing environmental approvals?

Identifying whether the extraction falls under the ML and accompanying environmental authority (EA), or whether it is characterised as a petroleum activity, is an important distinction to make in order to identify which relevant petroleum legislation is in play.

Assessing the environmental impacts of the activities is also crucial in order to identify the need for amendments to the EA. In the case where major amendments are needed, public notification can be required, which can open the EA up to third-party challenge and require the introduction of authorised activities, including gas drainage, flaring, surface disturbance and additional bores.

Safety and health considerations Two sets of safety legislation can apply to the extraction of CSG under a ML, the Coal Mining Safety and Health Act 1999 (Qld) (CMSH Act) and the Petroleum and Gas (Production and Safety) Act 2004 (Qld) (PGPS Act). These Acts are both complex in their own right.

Depending on the use of CSG, obligations can fall solely under the CMSH Act, or there can be a dual regulation under both the CMSH Act and PGPS Act. The Site Senior Executives (SSE) of a coal mine (a role not recognised under the PGPS Act) may face expanded obligations depending on how the CSG is used.

It is critical that coal mine owners understand their current position in the transition between the two safety Acts. Most importantly, SSEs need to ensure their Safety and Health Management System appropriately expands to manage the unique risks and controls that arise for workers working with or near CSG. Conclusion Gaining a comprehensive understanding of the legislative and contractual constraints, together with a comprehensive approvals and safety framework, is critical to unlocking the commercial value and opportunities available for ICSG extraction on a coal mine. 

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Environment and rehabilitation

Reviewing the existing EA for the ML can determine whether the extraction is authorised and complies with the conditions under the EA. The activities must also comply with the Environmental Protection Act 1994 (Qld) including general environmental duty.

people and partnerships People and Partnerships

Image: Pure Gold Films & Thiess

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Driving lasting impact in the Bowen Basin through Indigenous partnerships Tayla Spier, Marketing & Communications Specialist Thiess

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ustralia's mining sector is increasingly recognising that meaningful partnerships with First Nations people, Traditional Owners and Indigenous businesses are not only a social responsibility but a strategic imperative. These partnerships deliver tangible benefits: strengthening workforces and operational performance, supporting local businesses and delivering environmental and cultural outcomes.

By embedding cultural knowledge into everyday operations and supply chains, mining companies can unlock new opportunities.

Partnership-focused business strategies The Bowen Basin mining industry exemplifies how early and authentic engagement with Indigenous communities can transform operations and yield mutual benefits. Companies like Thiess, Glencore, Anglo American, and BMA embed Indigenous partnerships into their strategies through tools such as Reconciliation Action Plans, emphasizing principles of early involvement, governance, and cultural respect to strengthen social license, mitigate cultural, legal, and reputational risks, and lead to better heritage preservation and environmental outcomes.

By integrating Indigenous knowledge and local insights, companies influence land management, rehabilitation, and operational practices, while employment, training, and procurement initiatives foster resilient workforces and local supply chains, supporting long-term community growth. In the Bowen Basin, Traditional Owners and Indigenous businesses play a vital role in guiding land use and sharing cultural and community priorities, with mining operations moving beyond compliance to embed Indigenous partnerships into environmental, social, and governance strategies.

For example, in 2024, Thiess partnered with Barada Barna people to establish their ongoing leadership and support in cultural initiatives across the Bowen Basin, including the Elders on Country event, reinforcing connection to Country. The relationship with the Barada Barna Aboriginal Corporation (BBAC) has led to targeted employment pathways, subcontracting opportunities and supply agreements for Barada Barna people, such as: • Bargala Nanhi, a BBAC-owned subsidiary company, were contracted to source native seed for mine rehabilitation and signed a Strategic Cooperation Agreement to scale Indigenous-led rehabilitation services on Barada Barna Country.

• Thiess' partnership with BB Country Services has generated over $1.5 million in contracts through procurement arrangements, including water cart services and labour transfers, while building Indigenous business capability through training, mentoring and client connections.

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It is a total shift from transactional engagement to shared prosperity, demonstrating that sustainable mining requires true partnership with Country and community, where economic growth, cultural continuity and environmental care work together.

Lessons in improving engagement Important lessons have been learned: • Earlier engagements should be grounded in shared accountability and a commitment to moving forward together, rather than being shaped by internal processes that can delay outcomes and inadvertently reinforce hierarchy.

• Governance structures should ensure that yarning circles and other key cultural conversations are led by Traditional owners or Indigenous facilitators, rather than being organised or run solely by internal teams. This approach supports cultural safety, strengthens trust and reflects the deep cultural significance these practices hold.

• Responsibilities for recruitment should be centralised to ensure consistency and accountability in Traditional Owner and Indigenous pre-employment programs, recruitment and onboarding.

All related processes should undergo ongoing adaptation and improvement.

Thiess isn't working alone. BBAC has an agreement with BMA to support local projects, jobs, education, and Indigenous businesses. BBAC's 3BB Contracting is a 100% Indigenousowned and operated company that supports rehabilitation work at BMA sites, enhancing local skills and employment, while respecting Barada Barna's culture and connection to their land.

Glencore's Aboriginal Community Development Fund, created with the Wangan and Jagalingou people, invests in education, cultural preservation, and community projects. Traditional Owners help choose projects to ensure they meet local needs and last beyond mining activities.

Image: Pure Gold Films & Thiess

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In community-building initiatives, Anglo American’s Dawson Mine worked with Komatsu and local Gangulu Nation elders to plant over 9,000 native trees, restoring 80 hectares of land. In 2024, they helped create yarning circles at Moura State High School with Gangulu Elders, providing safe spaces for students and teachers to share gratitude and

empathy. The company also offers grants to support education, health, and cultural programs for Indigenous communities, creating long-term benefits. These efforts demonstrate that environmental care, cultural respect, and economic growth can be mutually beneficial when mining companies collaborate with Indigenous communities.

Strengthening supply chains Many local Indigenous businesses and not-for-profit organisations work with mining companies to strengthen supply chains and improve environmental management: • The Clontarf Foundation helps young Aboriginal and Torres Strait Islander men gain confidence, education, and jobs through sports and mentoring.

• Ochre Australia handles earthworks, land rehabilitation, road building, and land development projects.

• Dreampath Recruitment connects Indigenous jobseekers with longterm employment opportunities in the resource sector.

• Indigenous Women in Mining and Resources Australia (IWIMRA) promotes leadership and visibility for Indigenous women.

• Elephant in the Room Consulting facilitates meaningful conversations that drive inclusion, reconciliation and organisational change.

These partnerships demonstrate the power of collaboration. They bring unique skills and perspectives that help grow inclusion, understanding, and sustainable jobs in the industry.

The benefits of Reconciliation Action Plans Using the strong governance and reporting frameworks of RAPs, companies embed the key principles of success, including early engagement, trust-building, shared decisionmaking and cultural respect. This feeds into measurable targets for procurement, workforce development and community engagement. RAPs help companies map Indigenous suppliers, identify scalable contracting opportunities and create pathways for local businesses to grow.

Throughout the Bowen Basin, companies are showing that embedding these principles across operations creates Indigenous partnerships with lasting impact. Cultural respect, accountability and collaboration create jobs, build local capability and strengthen trust with communities.

People and partnerships

For employment, RAPs drive workforce diversity through targeted recruitment, apprenticeships, training and mentorship and building cultural capability.

Community engagement commitments ensure ongoing dialogue with Traditional Owners, investment in cultural heritage projects and transparent reporting.

Of course, RAPs require iterative learning, consistent dialogue and ongoing refinement – shaped by reflection, community feedback and lived experience and making engagement practices culturally grounded, transparent and responsive to both community expectations and operational realities.

It is a total shift from transactional engagement to shared prosperity, demonstrating that sustainable mining requires true partnership with Country and community, where economic growth, cultural continuity and environmental care work together. Together, we are shaping a responsible mining industry that honours heritage while building a stronger future for all.  Image: Hastings Deering

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Digging deeper – learnings from decades of giving from the Queensland resources sector Sylvia Bhatia, Chief Executive Officer QCoal Foundation

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ueensland’s resources sector has long been a backbone for regional communities - driving economic growth and meaningful social investment.

In addition to the substantial economic benefit the resources sector delivers through employment, local procurement and royalty and taxation contributions, collectively, the sector spends millions of dollars each year supporting community programs and partnerships across Queensland - demonstrating a significant commitment to building resilient, thriving regional communities.

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Why philanthropy matters Philanthropy can be defined as “practical benevolence to support humankind, or the act of giving time, money or resources to promote the well-being of others and improve society.” While the resource sector may more frequently refer to social investment or community contribution, the core tenets of philanthropy — supporting people with time, money, or resources for the benefit of others — still apply. For regional Queensland communities

facing demographic changes, rising service needs, and infrastructure pressures, this new breed of philanthropy is vital. It is about building local capacity, promoting economic diversity, and fostering social cohesion, ensuring communities can adapt, grow, and thrive for generations.

Evolving impact in action Over the last decade, community giving in the sector has transformed. What began as one-off donations - like providing shade cloth for a kindergarten - now

Trends shaping the sector • Partnerships with purpose: One-off grants are complemented by multi-year, collaborative partnerships in areas like health, education, and employment to build sustainable change over the long term.

• Innovation in delivery: Companies are piloting new service models, including multi-year trials, start-up funding for social enterprises, coinvesting with Indigenous and community groups, and blended finance approaches, in response to local challenges.

• Broader engagement: For many resource companies, community investment now includes mentoring, advocacy, business support, and knowledge sharing, helping communities build capability beyond funding alone.

Maximising long-term impact Drawing from QCoal Foundation’s experience, there are six key learnings for industry leaders aiming to

make a lasting difference with their community programs: 1. Start with authentic community voice Decades of project development and operations means that community engagement is already at the heart of the resources industry’s approach. When designing your giving program, find pragmatic ways to leverage this to ensure your giving focusses on the real priorities of the community.

At QCoal Foundation we have embedded questions around local community priorities into our grant application process. This means we collect hundreds of community-voice data points each year – from everyone who applies for, or receives funding – and we use that data to help ensure our funding priorities align with community priorities.

2. Amplify impact through strategic partnerships Collaborate with governments, not-forprofits, Indigenous groups, and industry peers to combine resources and expertise. This enables the initiative to address community needs more efficiently and avoid duplication. At QCoal Foundation we have a donor base that includes industry peers who value the social venture approach to philanthropy and recognise that, rather than build it in-house, they will amplify their impact by contributing to existing programs with demonstrated outcomes, rather than building it ‘inhouse’.

While there may be a strong business case for ‘going it alone’, there

is considerable merit in alignment to prevent duplication and to amplify outcomes; in particular where multiple companies have programs focused on the same communities.

3. Plan for sustainability from day one Consider what will happen at the end of your funding period and design a program with this in mind. Think about the data you need to collect to advocate for ongoing funding, build local capacity, and encourage program adaptability from day one. Support initiatives that can stand the test of time and empower communities to manage them independently.

4. More than a financial contribution Bring your business skills to the table – beyond the financial support, consider if your community giving approach could be enhanced by including mentoring, business advice, professional and governance skills, and access to networks.

Building up local leaders yields long-term benefits for the region. Also consider if your giving program would benefit from investing beyond your operational footprint – traditionally, resource company giving has targeted investment in the immediate communities of interest to their operations, however, community challenges are often shared across a region, and you may amplify the impact of your program by expanding the geographic focus.

5. Measure what matters Track outcomes over time, review progress, and adjust accordingly.

Focus on community

indicators - such as health, education, employment, and satisfaction - not just outputs or spend.

6. Don’t be afraid to start You don’t need a large budget to make a difference. Impactful programs often begin small, such as offering bursaries or supporting a local initiative, and scale up as trust and experience grow. Be clear about the specific challenge or need your program seeks to address - focused pilot projects offer learning opportunities with lower risk. You can also partner with established community groups or funders, contributing to proven models while you build confidence and plan for bigger aspirations. The key is to begin: every contribution, however modest, lays the groundwork for broader impact in the future.

Looking to the future As the Queensland resources sector looks ahead, these learnings provide a roadmap for strategic, sustainable community giving. The journey from ‘cheque-book philanthropy’ to deep, trustbased partnership is well underway.

When resource companies approach philanthropy as a long term, shared-value proposition—listening first, partnering widely, staying transparent, and strengthening people as well as place—the result is resilient regions, stronger societal bonds, and thriving businesses. In an era of change, this approach ensures the sector’s legacy is more than economic; it is a source of enduring strength, pride, and opportunity for all Queenslanders. 

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includes sophisticated, targeted programs aiming for generational outcomes.

Resource sector community programs now complement traditional grant-making with more innovative models such as facilitating social enterprise, exploring blended finance approaches (eg, social venture loans), and place-based partnerships. Or co-designing initiatives with local government, Indigenous organisations, and grassroots community groups. These models deliver sustainable value for both industry and community, underscoring the fact that resilient, prosperous regions are essential to the success of resource companies.

Is mining innovation a people problem?

PANELISTS: DR YVONNE POWER, NON-EXECUTIVE DIRECTOR, ASSET MANAGEMENT COUNCIL BRETT MCFADGEN, CHIEF OPERATING OFFICER, PLS FLETCHER SCHULTZ, MINING ENGINEERING STUDENT BEN KEYSER, OPERATIONS MANAGER, BARMINCO At IMARC 2025, Jodie Currie, Director, Bowen Basin Mining Club moderated a panel discussion on the topic “What are the operational challenges, threats and opportunities when it comes to implementing innovative mine management?"

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hen mining leaders gather to discuss innovation, the discussion often revolves around autonomous trucks, AI-driven optimisation and digital twins.

However, in this IMARC panel discussion, four voices from Western Australia's mining industry delivered a sobering message. The strong consensus is that the real challenge in adopting innovative mine management is less about the technology and more about the people.

Yet beneath this surface agreement lay differing opinions about how fast to move, who to prioritise, and what risks matter most when transforming an industry still anchored in decades-old rhythms and routines.

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Defining innovation as not just what, but how The panel's first task was to define what innovative mine management actually means.

The answers revealed fundamentally different philosophical approaches.

For Brett McFadgen at PLS, innovation starts with a simple principle: "Understand the problem we're trying to solve and then find the right technological solution." He challenges the tech industry's obsession with cutting-edge. "Innovation isn't about inventing cutting-edge technology. It's about smart application of proven solutions. Innovation is how we use it, not what we use."

Dr Yvonne Power offered a more structured definition from an asset management perspective, introducing advanced technologies into frameworks that support asset performance management, from drones for asset integrity to robots for high-risk repairs.

Fletcher Schultz framed it differently: "For me, innovation just means solving problems in a new way that are smarter, safer and more sustainable," citing changing shift patterns as innovation that "does things for people, not replaces things."

Ben Keyser stressed systems and processes.

With mines getting deeper and hotter, "innovation is incremental, continuous, and never really stops."

The speed paradox: nimble versus inclusive One of the panel's key debates centred on the speed of innovation. McFadgen's description of PLS's approach highlighted both benefits and risks of moving quickly.

But he acknowledged the tension this creates. "We're constantly balancing between two risks. Either we're leaving our people behind or we're moving too slowly for those who expect rapid change."

He painted a picture of a generationallydivided workforce. "Our newer workforce expects technological innovation.

They've grown up with smartphones and AI, and they're digital natives who get frustrated when systems are clunky."

The flip side cuts deep. "We also have experienced team members who can feel overwhelmed by too much change too quickly. They've built careers on expertise that might shift as systems evolve. Innovate too slowly and you'll lose your emerging talent. Move too fast and you create anxiety and resistance."

The AI divide: enthusiasm vs caution Perhaps the panel's sharpest divergence came around artificial intelligence.

McFadgen's enthusiasm was evident.

"What excites me is that we've built strong foundational systems and now we're able to layer in AI and advanced analytics to unlock value we couldn't imagine before. The pace of change is extraordinary. We're at a point where we don't even know what some solutions will look like, because they don't exist yet."

Power, however, sounded a cautionary note around generative AI. "My concern is the use of generative AI in the workforce, particularly with our new graduates, because AI can hallucinate and make up false responses very convincingly."

The distinction mattered. "In retail that doesn't matter, but in an industrial setting that may impact licence to operate. It's about training people on what technologies are available, how they should be used, what are the shortcomings."

Schultz revealed a critical recruitment gap. "We should be engaging mining students in their first year. We lose a lot to other industries. We need first-year internships, even just a week on site."

He also urged the industry to empower young professionals: "Don't be afraid to give students straight out of uni a lot of responsibility. A lot of students are just itching to get involved in big projects."

Keyser reframed the challenge. "Access to different skill sets is about framing what the problem is. When we talk about the actual problems, data analytics, mechatronics-type work, that's where people get excited."

The mine of the future Looking ahead five to ten years, McFadgen painted a rosy future.

"The mine of the future will be fundamentally different. It will be centred on AI-driven optimisation and integrated automation. I see fewer people on the ground operating equipment and more in centralised operation centres focused on optimisation. The question shifts from 'is the machine running?' to 'are we getting the best possible outcome out of the integrated system?'"

McFadgen's conclusion: "Managing the human side of innovation is as critical as the technology itself. Get the people part wrong and the best technology in the world will fail."

Schultz acknowledged the rapid changes.

"You've got to understand the human side of AI. If you don't get the people right, then you're not going to get the AI right either."

The underground realities of rhythms and resistance

Keyser offered a middle path, pointing to Barminco's work with Biome, a mine operating system that provides "information at people's fingertips quickly so people can make decisions."

Keyser saw the breakthrough in integration itself, reframing mining entirely as "just a form of manufacturing, moving tonnes from one place to another and trying to get faster each time."

The next generation question

The path forward

The challenge of attracting young talent revealed another gap between mining's innovative reality and its outdated reputation.

The panel was asked for one piece of advice about successfully implementing innovative mine management. Although each person had a different perspective, the consensus was unmistakable.

From the underground perspective, Keyser reinforced just how difficult people integration can be, even when technology works. Barminco's trial of a battery electric truck provided valuable lessons.

"It wasn't the technology hurdle so much that was a challenge. It was the people integration," Keyser said. "There was definitely that period of early adoption and interest, but the challenges started 12 months later."

This resonates throughout underground operations. "You've got a rhythm within the crews that has operated for years.

People have been doing the same thing over and over again, and change can be really difficult. Innovative mine management is really a change management problem to solve."

Schultz spoke candidly. "Whenever I talk to people about mining at uni, they always picture mining as old-fashioned.

I quickly learnt that mining is driven by technology. That's the picture I need to sell, an innovative workspace that needs students and early career workers."

McFadgen noted lithium particularly resonates. "They're excited about creating a future. They feel empowered that the product is going to something beneficial for the world."

Mining's innovative future will be built on advanced technology, certainly. But it will be either enabled or constrained by how well the industry manages the profoundly human challenge of bringing people along for the journey. The mines of the future won't be built by those with the best technology. They'll be built by those who best understand that innovation is, at its core, a people problem. 

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"The biggest challenge was needing to move fast during a market downturn," McFadgen explained. "At PLS, being independently owned meant we had the autonomy and nimbleness to make those decisions."

Better together: Redefining success in mining Panelists: RAE O'BRIEN, GROUP EXECUTIVE AUSTRALIA EAST, THIESS CRAIG JOHNSTON, VICE PRESIDENT SALES FOR AUSTRALIA AND NEW ZEALAND, SANDVIK SCOTT WINTER, MANAGING DIRECTOR AND CEO, CRITICAL MINERALS GROUP

At IMARC 2025, Jodie Currie, Director, Bowen Basin Mining Club, moderated a panel discussion on the topic “Focusing on operational improvements, optimising cost and delivering a more sustainable outcome across the value chain”.

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n a lively plenary panel, industry leaders from across the mining value chain discussed how operators, contractors, and suppliers are working together to improve productivity, control costs, and achieve genuine, sustainable outcomes. They collectively depicted an industry in transition, where sustainability is no longer a separate issue but a core part of operational excellence.

Redefining sustainability as more than environmental compliance When asked what delivering sustainable outcomes means for Thiess as a contractor, Rae O'Brien was clear that sustainability goes well beyond 122

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just measuring carbon emissions and environmental factors. "Of course, our focus includes the environmental, the carbon side of things, and social performance in every aspect. But from a sustainability point of view, the operation has got to be economical. At the end of the day, if it's not going to deliver economies in some respect, it's just not going to happen.”

She emphasised that Thiess views productivity and sustainability as complementary values, rather than competing priorities. "We actually launched a rehabilitation business recently, so that's going to be woven in from the start," O'Brien noted, highlighting how contractors are taking a longer-term, holistic view of mine life cycles.

Technology driving step changes in efficiency and safety From the supplier's perspective, Craig Johnston of Sandvik emphasised that sustainability and productivity are now inseparable. "Sustainability no longer sits beside productivity. It's part of it," he explained. Sandvik's goals focus on helping customers do more with less, like improving drill quality to reduce overbreak in underground operations, enhancing ground support to minimise rehabilitation needs, and deploying autonomous and optimisation tools to boost fleet efficiency.

Johnston pointed to Glencore's George

Fisher Mine as a practical example where the introduction of automated trucks took an already efficient operation to the next level. Looking ahead, he identified three key pillars driving step changes in mining: automation, digitalisation and electrification. Having said that, he stressed that the value to be found in these is only unlocked when they’re all connected, "Our customers pay a lot of money for machines. They need them to work."

The junior miner perspective Scott Winter brought the perspective of a junior miner working in the rapidly evolving critical minerals sector. With vanadium flow batteries at the core of long-duration energy storage solutions, Critical Minerals Group faces unique challenges in setting up operations in regions unfamiliar with large-scale mining.

“We are entering a new jurisdiction, working with a new commodity, in an area unfamiliar with mining," Winter explained. For Critical Minerals Group, sustainability means ensuring the supply chain is in place to support not just their operation but the broader community. "You can invest in your own development, but you're one piece in the puzzle. You're not everything. You need support around you.

Winter emphasised the importance of helping local businesses and communities make smart investment decisions to

People and partnerships

Image: Pure Gold Films & Thiess

avoid the boom-and-bust cycle that has plagued some mining regions. "I've seen many businesses just go under because they've over-invested capital. So we spend a lot of time making sure people are making the right investments."

When it comes to cost discipline, Winter stressed the importance of a clear strategy that creates value in the short, medium, and long term. "Every dollar counts in a junior because every dollar has to create value," he said. “And the best way for the dollar to make the right impact is to have a very clear strategy.”

Despite being a junior explorer, Critical Minerals Group is now producing its second ESG report. "As a junior we don't really have to be doing that, but we've seen that as an important value add to the business.”

Looking ahead: partnerships, technology and community When asked about the future, the panellists offered insights into how the industry will continue to evolve over the next five to ten years.

O'Brien highlighted the increasing complexity of mining operations as easier deposits are exhausted. "Pretty much all the easy stuff's gone. So it's going to be increasingly complex, and it's important to get that strategy right." She also pointed to opportunities in fugitive emissions management, such as applying oil field technology to help clients capture and beneficially use gas before it

becomes a fugitive emission.

Johnston spoke to the global maturity gap that is rapidly closing, with Australian contractors changing the game overseas. He also flagged the critical shortage of skilled technical workers, noting that automation and technology deployment will increasingly focus on working smarter with fewer people. "Some of what we're focusing on is not just how do we remove people from dangerous areas, but how do we remove people that don't need to be there because we can't get enough staff."

For Winter, the vision is clear. The focus is establishing a complete domestic supply chain for vanadium and longduration energy storage. "We know we have the resources to develop and process and refine this material. We know we've got the technology to manufacture active materials in the country, and we know we've got a need that's very clear."

One piece of advice for working better across the value chain?

Rae O'Brien: "Work together in every single piece of the value chain."

Scott Winter: "Value your partnerships.

Everyone needs to win."

Craig Johnston: "Trust, transparency and engage early."

Overall, the message was clear. In an industry facing rising costs, increasing complexity and mounting pressure to decarbonise, collaboration across the entire value chain is the only path forward. 

In an industry facing rising costs, increasing complexity and mounting pressure to decarbonise, collaboration across the entire value chain is the only path forward.

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People and partnerships

The missing piece in safety: Why psychological safety matters more than ever in mining Anton Guinea, Founder The Guinea Group

I

n the mining industry, we’re well drilled (pun intended) on managing hazards: rockfalls, equipment failures, gas leaks, fatigue, and the list goes on. Safety systems, personal protective equipment, and incident investigations are part and parcel of keeping our miners safe. Yet one critical ingredient often flies under the radar: Psychological safety.

When employees don’t feel safe to speak up, admit mistakes, raise concerns, or question decisions, silence becomes a hazard in itself. Safety systems don’t fail because they are ineffective – they fail because people are afraid to talk about them, they are afraid to talk about what they see, sense, or fear.

This is where Speak Safe – our psychological safety program built around CARE (Communication,

with Acceptance, Responsibility, and Empathy) – becomes the missing piece.

Psychological safety is not a ‘soft skill’ or an optional extra; it’s the foundation of every physically safe workplace. When people feel safe to speak, they act faster, think clearer, and protect each other better.

Communication What you say matters – and in high-risk environments like mining, how you say it matters even more. Communication is the heartbeat of psychological safety. It’s how we share information, raise issues, and build trust. Every conversation, every briefing, every comment on the job either strengthens or weakens the culture of safety (which most leaders don’t realise).

The drivers of psychological safety often start with simple communication habits.

When leaders listen without judgment, when questions are encouraged, and when feedback is handled with respect, people learn that speaking up is safe.

But when communication is one-way, dismissive, or driven by fear of blame, silence becomes the default. And silence in mining is dangerous.

Beyond culture, there’s also a compliance and legal dimension.

Regulators now recognise psychosocial hazards in the workplace, including bullying, exclusion, and poor communication as legitimate safety risks.

Leaders now have a legal responsibility to manage these psychological risks, not just the physical ones. Clear, respectful, and open communication isn’t just the right thing to do. It’s a compliance requirement. In a Speak Safe environment, communication builds connection, reduces risk, and keeps people accountable to one another.

Acceptance Acceptance starts with recognising that everyone is different. In mining, teams are made up of people with different personalities (and different generations), backgrounds, beliefs, and communication styles. Those differences can either divide or strengthen a crew, and its leadership makes the difference.

When people feel accepted for who they are, they’re more likely to contribute ideas, admit mistakes, and collaborate effectively.

Creating acceptance means ensuring that all voices are heard, not just the loudest or most experienced.

Psychological safety thrives in meetings where the apprentice’s question is valued as much as the supervisor’s observation.

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It’s about creating space for input, even when it’s uncomfortable. When people feel rejected or ridiculed, they shut down. When they feel heard, they engage – and that engagement can prevent harm and hurt.

But acceptance doesn’t mean anything goes. Boundaries are important. Respectful workplaces balance openness with accountability. It’s about saying, “We welcome your voice – and we expect professionalism, respect, and care.” Boundaries create structure; acceptance creates inclusion. Together, they create a culture that’s both safe and productive.

Responsibility Responsibility is where safety culture becomes personal.

It’s about leading from your values – being clear on what matters to you and showing it through your actions. In mining, leadership is less about position or title and more about example. Every time a supervisor listens before reacting, or a worker stops a task because it feels unsafe, they are living their values and reinforcing psychological safety.

Trust and respect are earned, not demanded. When leaders consistently demonstrate responsibility – by admitting mistakes, sharing decisions transparently, and holding themselves to the same standards as their teams, they build trust. In an environment where trust exists, people take ownership of their actions.

They don’t wait to be told; they act because they care.

Image: Turnbull Photography

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Living with integrity ties it all together. Responsibility without integrity is hollow.

Integrity means doing the right thing, even when no one’s watching. It’s following through on commitments, speaking up for others, and

Empathy Empathy is the human side of safety. It’s about understanding perspectives – seeing situations through someone else’s eyes. In mining, where stress, fatigue, and pressure are common, empathy helps leaders and teammates recognise what others are experiencing. When someone is distracted, distant, or delayed, empathy asks, “What might be going on for them?” rather than “What’s wrong with them?” That shift changes everything.

Mindfulness plays a powerful role in managing stress and building empathy. Taking time to breathe, pause, and refocus before reacting helps people to respond with clarity rather than emotion. For leaders, mindfulness is about being present. It is about noticing when tensions rise, when communication falters, and when the team’s energy dips. A mindful leader prevents pressure from becoming unsafe.

Dealing with difficult colleagues is where empathy is tested most. It doesn’t mean tolerating poor behaviour or avoiding hard

conversations. It means approaching those conversations with curiosity and care. Asking, “Help me understand where you’re coming from,” instead of, “What’s your problem?” shifts the dynamic from confrontation to collaboration. Empathy turns conflict into connection, and connection into safety.

Conclusion Mining has always been about managing risk – but the next frontier in safety isn’t about new equipment or technology. It’s about people.

It’s about creating workplaces where everyone feels safe to speak up, to challenge, to CARE, and to take responsibility.

The Speak Safe framework – built on Communication with Acceptance, Responsibility, and Empathy – bridges the gap between physical and psychological safety.

When we strengthen the way we talk, listen, and lead, we don’t just prevent incidents; we build teams that thrive under pressure.

Psychological safety is not a ‘soft skill’ or an optional extra; it’s the foundation of every physically safe workplace.

Because at the end of the day, silence can be dangerous. But a culture of open, honest, human conversation? That’s the missing piece that keeps us all safe. 

Creating, connecting and caring for communities

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being honest about challenges. In a Speak Safe culture, integrity fuels responsibility, and responsibility fuels safety.

Why learning is key to effective critical controls Dr Sean Brady, Managing Director Brady Heywood Pty Ltd Dr. Sean Brady is a forensic engineer specialising in technical and organisational failure analysis. In 2020, he authored the Brady Review on Queensland mining fatalities, presenting 11 safety recommendations. In 2024, he led the investigation into the turbine generator failure at Callide C Power Station in Queensland.

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ith the commencement of amendments made by the Resources Safety and Health Legislation Amendment Act 2024 (RSHLAA), mining companies across Queensland will adapt their current safety and health management systems to take a critical control approach to managing their major risks.

Adopting a focus on critical controls is a positive step. Both the Brady Review and several International Council of Mining and Metals (ICMM) reports found that ineffective controls played a key role in fatalities. Ineffective controls are controls that an organisation believed were in place, but, when required, didn’t function as intended and failed to 128

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prevent a fatality. In blunt terms, these reports highlight that it’s not hazards that kill people, it’s ineffective controls.

A critical control approach is powerful because it focuses organisations on confirming the effectiveness of their most important controls: the controls that prevent fatalities and serious incidents.

While the wisdom of the approach is sound, my concern is with its implementation. At its worst, organisations will simply put a system in place to comply with the new legislation, with the system’s effectiveness being a secondary consideration. But even at its best, many organisations will view a critical control approach as just another compliance and audit tool. They will fail to realise one of its primary benefits – its role as a tool for learning.

A critical control approach Taking a critical control approach typically involves identifying your major risks – which could be single or multiple fatality events – and selecting critical controls that prevent or mitigate them. You then define performance standards for these controls, and you put in place a system to verify that the controls comply with these standards. This is a sensible approach and significantly better than having no system in place at all.

The limitation is that it’s not possible for any organisation to build a ‘perfect’ system. You can’t identify every critical control required for every situation, and you can’t always define clear,

unambiguous performance standards for them. You should certainly aspire to do so, but there will always be situations where the controls aren't as effective as you intend. Even if you could design a perfect system, there is always a gap between work-as-imagined and work-asdone, and this gap typically widens over time. Even if the controls are effective now, at the point of design, this doesn’t mean they will be in the future.

Given these limitations, how do you ensure that your controls are not only compliant with your performance standards but also effective?

High Reliability Organisations It’s here that the principles of High Reliability Organisations (HROs) are instructive. These are organisations that, despite operating in hazardous environments, have very few serious incidents. Commercial airline companies are often cited as an example - air travel is both inherently hazardous and incredibly safe.

To achieve this level of safety, High Reliability Organisations understand something fundamental – they understand that you can’t design the perfect system to keep your people safe.

But you can design a good system, and then seek constant feedback on where it’s losing its effectiveness. In other words, High Reliability Organisations implement practices to alert them when their system is weakening, and then they act on this information to strengthen their system before an incident occurs.

Learning about control effectiveness There are many ways that you can learn, but we will focus on one that’s particularly relevant for critical controls: you can get feedback on the effectiveness of each critical control within your organisation by combining information from multiple data sources. These sources include data collected from critical control audits and inspections, the findings from incident investigations, information from near-miss reporting, hazard reporting,

safety interactions, and maintenance and inspection records. Organisations typically collect this information, but it usually lies in different systems, and rarely gets brought together in a meaningful way. When you bring it together on a per-control basis – in which AI can play a key role – you can use the data to learn where specific critical controls are weakening and require attention.

While it is clear that a critical control requires attention when it fails an audit, your other data sources may highlight problems with your controls that were not identified in audits.

For example, an incident investigation report may show that a specific control – one that may have been deemed compliant – is failing in practice and resulting in incidents. This information

highlights that you have an issue both with control effectiveness and with how you check the control (because if the check was working, it should have picked up that the control was ineffective).

Combining your data sources in this way allows you to learn about the health of your critical controls from multiple information sources, rather than just audit results alone.

From compliance to learning It’s easy to fall into the trap of thinking that adopting a critical control approach simply adds more paperwork to already bloated systems.

If organisations implement it poorly, this will be the likely result. But if it’s implemented well and used as a learning tool, it can provide an opportunity for your organisation to focus on what really matters when it comes to fatality prevention – ensuring you have effective controls. 

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Many organisations will put in place a critical control approach to manage their major risks, but this approach will only be truly effective if it’s embraced as a learning tool.

Putting this concept in critical control terms, High Reliability Organisations identify, implement, and verify that their critical controls are in place, but they also establish practices to learn where these controls are weakening over time. High Reliability Organisations are what we call learning organisations.

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People and partnerships

Reframing mining’s story: Winning the next generation of talent David Dodd, Managing Director WAHOO marketing

A

ustralia’s mining sector is facing a workforce challenge that is already being described as the worst skills shortage in a generation.

The Australian Resources and Energy Employer Association (AREEA) estimates the industry will need more than 24,000 new workers by 2027 to support projects already committed. At the same time, traditional talent pipelines are drying up, with declining enrolments in mining engineering and fewer young Australians considering a career in the sector.

This is a paradox because mining is central to both Australia’s economic stability and the global energy transition. Critical minerals, metallurgical coal, and the broader resources value chain underpin renewable energy infrastructure and emerging technologies. Yet for many in Gen Z and younger Millennials, mining is viewed less as an industry of innovation and more as a relic of the past.

Bridging this perception gap is now one of the industry’s most urgent challenges.

Understanding the perception gap Research by the Australian Minerals & Energy Skills Alliance (AUSMESA) and CSIRO has consistently shown that younger Australians are still either unaware of, or hold negative views about mining, persistently equating the industry solely with environmental harm or legacy stereotypes rather than recognising its role in energy security and sovereign capability. Concurrently, career motivators are shifting. McCrindle’s ‘Future of Work’ report highlights that purpose, values alignment, and flexibility now rank alongside salary in importance for younger employees.

Mining companies face a two-fold challenge - correcting outdated perceptions while also offering a career proposition that meets the expectations of a new generation.

The old Employee Value Proposition isn’t enough Historically, mining has relied on high wages, job security, and FIFO rosters to attract talent. While still important, these levers no longer guarantee appeal.

Today’s candidates want to know not just what they will earn, but what they will contribute to, how they will be supported, and whether the industry aligns with their personal values.

PwC’s 2023 ‘Future of Industries’ survey found that 70% of young professionals would choose a role with lower pay if it offered stronger alignment with their values and wellbeing. In this context, mining’s traditional employment value proposition (EVP) risks falling short. The EVP of the future must

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combine competitive pay with meaningful purpose, visible sustainability commitments, supportive culture, and pathways for career growth.

The opportunity for reframing The good news is that the opportunity for

Content that humanises mining — such as day-in-the-life videos, VR tours of operations, or testimonials from apprentices and graduates — is proving effective in making the industry relatable and aspirational.

Community engagement programs, from school outreaches to partnerships with regional universities, are also critical to reestablishing trust and building a visible and vibrant pipeline of local talent.

Mining mining is significant. The challenge is that stories about these opportunities are not companies reaching or resonating with younger audiences in a way that leads to action. face a twoA call for collaboration Reframing mining as purposeful, sustainable, The scale of the challenge means no single fold challenge and innovative requires both messaging and company can solve it alone. Industry bodies, medium to evolve. Campaigns must effectively government, education providers, and - correcting demonstrate how mining contributes to the employers need to work together to reposition technologies that younger people care about, outdated mining as a career of choice. At its core, this from wind turbines and batteries to digital is about telling mining’s story in a way that is devices. They need to strongly highlight perceptions authentic, compelling, and aligned with the authentic stories from people within the values of the next generation. industry, especially younger employees whose while also voices resonate most with their peers.

Specialist agencies like Wahoo Marketing are offering a career Practical strategies that are gaining traction already working alongside industry partners to shape employer brands, design talent proposition Across the industry, there are examples of attraction campaigns, and produce content initiatives that demonstrate what is bringing that resonates with younger audiences. While that meets the results. The Queensland Resources Council’s each project is unique, the principle is the Your Future’ campaign placed a same. Mining must speak with clarity and expectations of a ‘Shape spotlight on career pathways and community confidence about its role in Australia’s future. new generation. impact, connecting mining to sustainability The sector stands at a crossroads. Mining will and innovation. Internationally, companies including Glencore have experimented with platforms like TikTok to engage younger audiences with bite-sized content that speaks their language.

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remain essential to the energy transition and the Australian economy for decades to come.

Whether it continues to attract the talent needed to sustain that future depends on how well the industry can reframe its story today. 

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