Bathurst Resources Limited (ASX:BRL) has announced updated production targets across its operating mines and development projects, aiming for a total of 33.9 million tonnes (Mt) of product coal by FY40. The target includes contributions from both Bathurst-owned mines and BT Mining Limited (Bathurst owns 65%), with Bathurst acting as the operator for all group mines. The Group Production Target includes production from projects that are still in varying stages of consenting and development. Significant market updates are expected as projects progress to the Definitive Feasibility phase.
The production target spans several key segments. The Export segment, comprising 53% of the group target, includes output from the Stockton and Cypress operating mines, as well as the Buller Coal Plateaux Continuation Project (BCPCP). Approvals for BCPCP are anticipated via the Fast-track Approvals Act 2024 (FTA) in FY26, potentially boosting export volumes. The North Island Domestic (NID) segment, sourced from the Rotowaro and Maramarua mines, aims to supply local steelmaking and agricultural sectors. Mine extensions at Maramarua and Rotowaro are planned to maintain consistent supply to existing North Island customers; Rotowaro Extension FTA approvals are also expected in FY26.
The South Island Domestic (SID) segment, relying on the Takitimu mine, targets the local agricultural sector, with mining slated for completion by the end of FY26. The Tenas Project in British Columbia, Canada, is projected to produce 750kt of saleable steelmaking coal annually over a 22-year mine life, with initial production targeted for FY28. The Tenas Project is currently in the pre-application phase of permitting.
The Group Production Target is derived from 31% of the Group’s Mineral Resource Estimate tonnage reported at 11 September 2024 and wholly includes the Group’s Ore Reserve Estimate reported at 11 September 2024. Tonnage from the Inferred Mineral Resource classification makes up 19% of the Group Production Target. Bathurst emphasizes caution regarding the reliability of estimates incorporating Inferred Mineral Resources, acknowledging geological uncertainties and the risk that targets may not be fully realized.
