Vitrinite is focused on utilising an untapped tool in its open cut mines. We speak to Michael Callan, COO of the company, about the latest developments across the Vulcan Mine Complex.
HEADING UP THE HIGHWALL
The industry has gone through quite a tumultuous past year – it has been a bit of a wild time. We had coal prices going into the 600s during the middle of 2022, which is both incredible and unsustainable.”
Coal is a global power source responsible for around 36 percent of the world’s electricity. Metallurgical coal, more commonly known as coking coal, is used to produce coke, an essential fuel for many modern industries such as steel production. It therefore comes down to coal mining companies to fuel this global requirement.
In Australia, the mining sector is one deeply embedded in the country’s past, and coal is no exception. Yet despite its historical roots, there are new companies making their mark in an old industry, leading with dedication and technological savvy.
Vitrinite is one of these active and innovative companies, privately owned and holding an extensive strategic coking coal tenement portfolio within Queensland’s world-class Bowen Basin. At present, Vitrinite is primarily focusing on the well-known Vulcan Mine Complex (Vulcan). The company’s assets are situated in close proximity to operating mines, infrastructure and proven economic resources. Vitrinite is undertaking extensive exploration efforts within its holdings, identifying new deposits of premium coals in the basin.
Vitrinite is a young, progressive company insisting on excellence in every aspect of its work, and takes immense pride in the coal industry and the Australian resources sector. Vitrinite ensures stewardship of the lands and developing mineral deposits, aiming to achieve outsized returns for its shareholders and stakeholders…
