Whitehaven Coal has finalised the acquisition of 100 per cent ownership of the Blackwater and Daunia metallurgical coal mines in Queensland’s Bowen Basin, marking a significant milestone for the company.
This acquisition effectively doubles Whitehaven’s business size and ensures job security for Queensland workers for decades to come.
Whitehaven Coal Managing Director and CEO Paul Flynn stated: “This is a great day for our business and the workforces at Blackwater and Daunia, and great news for Queensland.”
With 95 per cent of Blackwater and Daunia employees accepting offers at Whitehaven, the company looks forward to welcoming more than 2,100 new team members and working closely with the local community and stakeholders.
Flynn emphasised Whitehaven’s commitment to the Australian coal sector, noting the importance of providing certainty for workers and businesses that rely on these mines.
Whitehaven has a strong history of supporting regional communities in northern NSW, and the company pledges to provide the same level of investment and support for its Queensland employees and local communities around Blackwater and Daunia.
Flynn highlighted Whitehaven’s focus on supporting local jobs, businesses, and community causes, as well as empowering Aboriginal and Torres Strait Islander people.
The acquisition, announced in October 2023, positions Whitehaven as a leading metallurgical coal producer, with approximately 70 per cent of its sales revenue driven by metallurgical coal and approximately 30 per cent by thermal coal.
Metallurgical coal is a critical component in steelmaking, and Whitehaven’s acquisition will support global steel demand, particularly in high-growth regions like India and Southeast Asia.
This acquisition not only provides Whitehaven with geographic and operational diversification benefits but also presents attractive growth opportunities in Queensland’s Bowen Basin — including synergies with Whitehaven’s Winchester South development project.
Whitehaven officially assumes operational control of Blackwater and Daunia on 3 April 2024 — marking the beginning of a new chapter for the company and its stakeholders.