The Bluff coal mine near Blackwater is transitioning to care and maintenance by the end of November, ASX-listed Bowen Coking Coal announced on Thursday.
Following a strategic review of the Bluff mine, suspension of mining before the wet season will allow the company to focus on its flagship Burton mine complex, where lower mining costs, infrastructure advantages and rising coking coal prices will deliver stronger returns on investment.
“The Bluff mine is a good asset in the right market. It has finite resources, which is best served selling into a strong pricing environment, not a weak one,” said CEO Mark Ruston.
He stated that Bowen was taking responsible action to weather softer pricing, tighter labour markets and increasing input and operational costs for Bluff.
Bowen is working with key contractors HSE and Qube in a collaborative and productive manner, and helping where it can with re-deployment opportunities for affected employees.