Bathursts' problem isn't it % of metallurgical coal. In the past Thermal clients in NZ would be supplied coal of a far greater quality than needed for thermal or other requirements from Cascade for instance. Although Bathurst does have mines like Takitumu where thermal quality coal is produced, its' possible future assets are largely Coking coal that have been described as the "Silk of Silks" by our illustrious leader, HB.
Escarpment for instance is of such a high quality that it attract a premium as described by Strider and Lefevre because it can be used to bring other lesser quality cokes up to speed.
F and B should consider the coal assets of NZ on a "Fit for Purpose'. I believe it to be hugely wasteful to be burning superior coals for making concrete. the best coals should be used for the most critical Global needs. Coals of the poorest quality should be left in the ground until we get down the track and have no other option but to use them. Hopefully by then we shall have new options
They should further consider why they value a unique environment in NZ to be of greater importance the any environment in Aus, Indo or SA. The arguments used against development in the western world seem to ebb and flow from the local; "we dont want this in our back yard" to the global; "we live in a closed loop" as the need fits.
Its is time we picked which argument is the right one to have as if we don't we will be up sh*t creek well before the climate changes.
And one last thing F&B. In NZ you have far greater ability to ensure companies adhere to best environmental practices than they do in China, India, Indon or a myriad of others.
Viney
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