1.BW=Blackwater.Also, NHC probably now has c. $900m cash, after...

1.BW=Blackwater.
Also, NHC probably now has c. $900m cash, after the loan from last week of $300m .I didn't include its most recent, unannounced (ie April-June Qtr) cash earnings. Why did it feel necessary to borrow this $300m now? Acquisition?






2. Sha.re.caf.e 8.7.24 G. Dyer said

"The Grosvenor fire continues to rage as work goes on to seal all six entrances to the mine and other areas where oxygen could potentially leak into a shaft and continue to feed the blaze.

A week onwards, it now looks increasingly obvious that the mine has been destroyed, and Anglo won't know for months what it will do.

Around 1,400 people employed at the mine—Queensland’s largest underground operation—will be paid by Anglo until July 15. The town of Moranbah, with its nearly 10,000 residents, will have to battle onwards and hope for support from the state and federal governments".

Coal market reactions and Glencore's Canadian acquisition - *********

(Google "Sha.re.caf.e Dyer", then URL in link, to open it)





3. It will be a tragedy for its workers, & the wider Moranbah district, if the very valuable Grosvenor HCC mine is closed permanently.

And for Australia, our tax base & balance of payments- & the ATO.

This Qld. Govt Official Report, from 18.11.22, clearly establishes the huge financial benefits to Qld. &Australia, from Qld's met coal mining & exports.It is relying on these royalties etc.
There is no practical & economic substitute to efficiently produce steel, without using met coal- unlikely to change for decades (despite A. Forrest etc. fantasies about hydrogen power etc).

https://s3.treasury.qld.gov.au/files/Queensland%E2%80%99s-Coal-Industry-and-Long-Term-Global-Coal-Demand_November-2022.pdf


C. La Femina, analyst from Jefferies (in my link from last week) said the 5 Anglo mines were worth c. US $4.5b- with Grosvenor alone, an HCC jewell, worth c.$1.5b.


Grosvenor was currently expected to produce 3.5Mt/pa, with a ramp up scheduled to 7Mt/pa by 2027. Shortages of HCC= eventually, significant rising met coal prices.
(It is my understanding that the coal trading market, until the fire on 29.6, had this 7Mt/pa factored, re coal availability & future prices- can anyone confirm this?)