This is part of what seems to be an update to a 'The Oz'...

This is part of what seems to be an update to a 'The Oz' article. Read it in full in this excellent newspaper tomorrow:

"...UBS mining analyst Lachlan Shaw said Grosvenor faced an uncertain future, and the suspension of production was expected to add pressure to markets short-term, and offer a price floor.

“While it is early days in terms of understanding the full impact, judging by similar events in recent years, mine entry (after the fire) could be some months away, with a full rebuild and recovery to take place over an extended period,” Mr Shaw said.

“If the mine has sustained severe damage, a permanent closure cannot be ruled out, given this is the second gas ignition event in four years.”

Mr Shaw said coking coal supply growth had slowed in recent years as investment intentions were curtailed due to environmental, social, and governance concerns and high royalties imposed in Queensland.

“Production has faced mounting challenges,” he said.

“Mines are getting older, deeper and more geologically/geotechnically challenged, and for undergrounds, more gassy. Those forces are only entrenching and will be further exacerbated as ageing assets deplete.”

Grosvenor includes far higher levels of methane than in other Bowen Basin coal deposits, which Anglo has struggled to manage. In 2020, an underground explosion seriously injured five workers, forcing its closure until February 2022..."

Helpful to NHC!