From the Editor - BBMC Yearbook 2021

Jodie Currie

If the theme of 2020 was challenge, the theme of 2021 for our industry is consistency - making continual steps in the right direction for a profitable future.

Reading the articles from this year’s contributors made one thing clear: our industry is finally taking up the call to ‘get loud’ on the importance of coal and the integral part it plays in our future - renewables targets and all.

With the Glasgow COP26 conference wrapping up just weeks before this Yearbook goes to print, I am pleased to see a last minute wording change to the global commitment to ‘phase down’ coal rather than ‘phase out’. Just a quick browse through the content of this Yearbook makes a compelling argument for the necessity of coal, both now and into the future - particularly Queensland coal.

The fact that can’t be denied is the quality of the coal from our Queensland deposits. It’s some of the lowest-ash, highest-yield coal in the world, and the safety and quality controls under which we mine are excellent by global standards.

Kestrel’s Shane Hansen (page 33) points out some excellent facts on metallurgical coal’s key role in decarbonisation and net zero targets. Continuing coal mining in Queensland for a long time to come really is a no-brainer. There are plenty of ways to meet climate change targets without ruining our economy or regional communities.

And when it comes to alternative energy sources, we’re exceptionally well-placed too. As Mike Kaiser says in his article (page 25) - the way to alleviate climate change is to actually increase mining. Our metallurgical coal is key to wind turbines and solar panels, and our new economy minerals are essential to battery production.

This begs the question - do activists really want us to cut emissions, or is the real end game to actually stop mining? This puts a different perspective on the future of our industry - and this year’s contribution from the World Coal Organisation CEO, Michelle Manook (page 9), is an excellently thoughtout piece about raising the ‘Coal IQ’ and keeping economies in forward motion.

Economics aside, the overwhelming theme of this year’s content is ESG - in operations, planning and even in mine closure discussions. There’s simply no denying the importance of ESG as a major factor in our industry’s operations, and there’s no wonder that environment and social concerns were named as the biggest risk to mining and metals companies by Ernst & Young in their October report for the first time.

We’re certainly seeing it as a significant trend in all our discussions with the industry’s movers and shakers, and it was even recognised as part of the Queensland Resources Industry Development Plan, the state government roadmap for the next 30 years of the industry (see page 20).

Another interesting discussion that’s been happening this year is around the future viability of nuclear power in Australia. We spoke to Dr Benjamin Heard in our BBMC Crib Room Podcast (see page 57), a self-described ‘environmentalist voice for nuclear’. While that might sound like a contradiction, Ben’s explanation of ‘measuring our monsters’ has stuck with us all year long.

This year, we’ve also seen movement on some hotly anticipated projects in our region. Bravus celebrated their first coal after an exceptionally long journey. Whitehaven moved one step closer to construction with their draft EIS released for public comment, and Pembroke’s Olive Downs complex got the green light, along with a $175 million NAIF loan. Stanmore’s new Isaac Downs mine opened in August, and Vitrinite’s Vulcan open cut project near Moranbah received final approvals in September.

It wasn’t all new developments though, as M Resources and Stanmore acquired and re-started the Millenium metallurgical project, providing around 230 jobs. Bowen Coking Coal acquired the Bluff PCI project, expected to return the mine to production by early 2022.

It’s particularly exciting to see these previously stranded assets coming back online, with new players and the rise of the juniors (see page 49) meeting a record high in metallurgical coal prices. It’s clear that now is the time for smaller projects to shine!

Two key minerals projects also moved ahead: Multicom’s Saint Elmo vanadium mine will start construction in 2022, and the previously mothballed Rocklands copper mine returned to full production.

There’s plenty on the horizon for 2022: more events, a reinvigorated QME exhibition in Mackay, and of course, the Queensland Mining Awards. We’re excited to see how the industry connects, adapts and grows in the next 12 months and beyond - consistently, of course. •