Whitehaven Coal has announced that its acquisition of the two metallurgical coal mines in Queensland’s Bowen Basin is now complete.
Whitehaven Coal said that the acquisition of Blackwater and Daunia is a significant milestone for the company that will effectively double the size of its business and secure Queensland jobs for decades to come.
Whitehaven Coal’s Managing Director and CEO, Paul Flynn, said the company is proud to be the new owner of Blackwater and Daunia.
“This is a great day for our business and the workforces at Blackwater and Daunia and great news for Queensland.
“Whitehaven is a proudly Australian company and we’re committed to the Australian coal sector for the long haul. The completion of this acquisition means real certainty for workers at both sites and for the countless businesses that rely on these mines for economic security.
“We’re delighted that 95 per cent of Blackwater and Daunia employees accepted offers at Whitehaven. We’re looking forward to welcoming the team of more than 2,100 to Whitehaven and working with the local community and other stakeholders who will remain an important part of both operations.”
Whitehaven said it is committed to providing long-term investment and support for its Queensland employees and the local communities around Blackwater and Daunia.
“We understand the importance of mining to regional areas and we are proud to have made this significant investment into regional Queensland.
“We have a proven track record of supporting local jobs and local businesses, as well as directly investing in important community causes and empowering Aboriginal and Torres Strait Islander people.
“This local focus is part of our DNA and Queenslanders can be confident we’ll bring that same approach with us to the Bowen Basin.”
Announced in October 2023, the acquisition of Blackwater and Daunia repositions Whitehaven Coal’s portfolio to deliver sales revenue driven by approximately 70 per cent metallurgical coal and approximately 30 per cent thermal coal.
Whitehaven Coal said that metallurgical coal is a critical component in steelmaking and the acquisition will allow both the company and Queensland to play a leading role in helping to meet strong current and anticipated global steel demand for many years to come.
Whitehaven officially took operational control of Blackwater and Daunia on 3 April 2024.
Whitehaven said that its thermal coal business and the people that support it also remain strategically important as the company continues to provide coal products to support the global energy transition.
The company said that high quality thermal coal has an important role to play in supporting global energy security during the decarbonisation transition in the coming decades, particularly in Asia where there continues to be strong and growing demand for its use in high-efficiency, low-emissions coal-fired power stations.
