Share prices mixed for Queensland coal firms over the past 12 months

In the past year a majority of publicly-listed firms operating in the Bowen Basin have seen their share prices decline. See how Central Queensland’s major coal employers have fared.

Operations at the Caval Ridge coking coal mine in Queensland, owned by the BHP Mitsubishi Alliance (BMA). Picture supplied by BHP

The past 12 months have presented a mixed picture for Queensland’s major coal employers, with a majority of firms recording declines in their share prices.

From 10 publicly-listed companies with substantial operations in the state, six recorded falls from July 1, 2022 to this week.

Bowen Coking Coal, a producer with operations at the Broadmeadow East, Bluff and Burton mines, registered the largest fall, booking a 34.78 per cent decline from 0.23 cents a share to 15 cents on Jul 17.

TerraCom, which ships thermal coal from its Blair Athol mine, has fallen 27 per cent.

Diversified giants like BHP, Glencore and Anglo-American registered mixed results, with BHP rising 12.8 per cent, Glencore jumping 9 per cent and Anglo falling 16 per cent.

New Hope, which has secured approval to extend its New Acland mine, has skyrocketed 48 per cent and Stanmore Resources, which operates the South Walker Creek, Poitrel, Isaac Plains and Millennium and Mavis Downs mines, has booked a 32.4 per cent gain.

But the share market is volatile and a 12 month time frame presents only a snapshot of a company’s performance.

While TerraCom struggled across 2023, it has boomed from the early months of 2021 when its shares sold for just 8 cents.

Behemoths like BHP and Anglo are global enterprises and their shares are affected by operations and variables external to Queensland.

Commodity prices also affect how resource firms are valued by the market and Resources and Energy Quarterly reports show steady declines in the price of metallurgical and thermal coal from the historic highs of 2022.

Premium hard coking coal averaged US$377 per tonne in 2022 while in 2023, it is forecast to average US$273 per tonne.

Thermal coal is forecast to fall from US$360 per tonne across 2022 to US$120 by 2025.

Originally published as Share prices mixed for Queensland coal firms over the past 12 months