Reason for difference I have learnt is grade. That price in the index is for top grade hard coking coal. A lot of coking coal is not quite that good, while still very saleable. There is a grading in the price received. BCB coal from Beaconsfield is middle range, but Ellensfield they tell us will be higher on the scale than Bfd. We are not told all this of course.
Quarter ending Dec 2023, page-22
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