Overview

• Bowen Coking Coal appointed McGrathNicol as voluntary administrators on July 29 after failing to secure fresh capital and renegotiate terms with its two largest creditors, BUMA Australia and the Queensland Revenue Office.
• The Queensland Revenue Office’s refusal to defer royalty payments added to cost pressures from higher state royalty rates introduced in 2022, depressed metallurgical coal prices and rising production expenses.
• The company’s assets include the Burton Mine Complex near Moranbah and additional sites at Ellensfield South, Plumtree North, Lenton, Isaac, Broadmeadow East and Bluff Mine, and its shares have been suspended during administration.
• About 500 positions are at risk as the administration process unfolds, creating deep uncertainty for workers and their families across central Queensland.
• Administrators will meet with creditors by August 8 and intend to pursue a sale or recapitalisation to rescue the business and restore independent control.