Bathurst Resources Limited

Bathurst Resources Limited is a New Zealand-based mining company focused on the production and export of metallurgical coal for steelmaking, as well as thermal coal sold domestically in New Zealand for electricity generation and industrial process heat. The company operates several mines across New Zealand's North and South Islands with its main operating asset being the Stockton mine on the West Coast of the South Island.

In the 2023 financial year, Bathurst expects to produce approximately 2 million tonnes of coal annually, with 1 million tonnes exported for steelmaking and 1 million tonnes sold domestically for thermal uses. The company has a 65% interest in the Stockton mine, an open-cut mine producing low-ash, high quality coking coal, through a joint venture with BT Mining.

Bathurst also holds a 22.1% equity share in the Crown Mountain coking coal project located in British Columbia, Canada. This project is in the feasibility stage and is expected to produce around 2 million tonnes per year of coking coal over a 15-year mine life when it enters production in late 2026.

Overall, Bathurst aims to increase its exposure to steelmaking coal by developing new projects and extensions at existing operations. Its domestic thermal coal business provides a stable earnings base, while higher-priced export coal delivers potential upside tied to global steel demand and coal prices.