Question 1 - The coal and steel industries have faced significant challenges in recent years. From your perspective, what are the key trends and opportunities shaping the future of these sectors globally?

There are two key themes that will shape the future of steelmaking coal and the steel industry over the next few decades.

On the demand side, there continues to be very strong demand for traditional carbon steel production in Southeast Asia, particularly in India and Indonesia. There is significant new capacity either already delivered, in the final stages of construction, or to be completed in the near future for several major steel mills in India.

On the supply side, there has been a sharp decline in significant scale greenfield developments worldwide. In the past, such greenfield development has been essential to meeting demand for steelmaking coal by replacing the natural depletion of existing mines, while providing capacity for increases in steel production. Without such new, incremental capacity we face the potential for a significant shortage of high quality hard coking coal, which will be required over the next few decades as we transition to new manufacturing technologies.

Question 2 - With the ever-changing landscape of the global steel industry, how is Pembroke Resources positioning itself to meet future demands and what role does the Olive Downs Complex play in this strategy?

Pembroke Resources’ Olive Downs Complex is the only large scale, greenfield open cut steelmaking coal mine to be developed in recent years. Given the increasing hurdles in a variety of areas it may well be the last of its kind.

The Olive Downs Complex commenced production of the first stage at 6Mtpa in January this year, however as a mine that is approved for 20Mtpa for 79 years, stage 2 expansion has already commenced which doubles production to 12 Mtpa. Olive Downs therefore stands as quite a unique operation representing new, material, and incremental tonnage to Seabourne markets. 

Question 3 - Sustainability is a significant concern in the mining industry. How is Pembroke Resources addressing environmental challenges, and what innovative approaches are you implementing to ensure sustainable mining practices?

As a rare large-scale greenfield mine, Pembroke had a unique opportunity to develop The Olive Downs Complex in a way that set new standards for mining – to showcase a fresh approach that exceeds current standards. We have done this by embedding new, higher ESG and sustainability standards into all aspects of the operations from ground-breaking 4 stage clearing protocols, to an integrated mining campus, to a dedicated Koala and Greater glider clinic, staffed by specialist wildlife ecologists and veterinarians, including world leading autonomy and sustainable practices.

Question 4 - As the CEO and Chairman of Pembroke Resources, what excites you most about the Olive Downs Complex project and its potential impact on the global coal market?

To set new standards in mining practice while providing rare, incremental new capacity to worldwide coking coal markets.