Mitsubishi Corporation (MC) is pleased to announce the opening of the Caval Ridge Coal Mine in Queensland, Australia. The mine is run by BHP Billiton Mitsubishi Alliance (BMA), a 50/50 joint venture between resource major BHP Billiton and Mitsubishi Development Pty Ltd (MDP), MC’s wholly-owned subsidiary headquartered in Brisbane, Australia.
MC approved development of the Caval Ridge mine in November 2011. Caval Ridge is a new open cut mine located in the northern Bowen Basin in Central Queensland, and has the capacity to produce 5.5 million tonnes per annum of high-quality metallurgical coal. The mine also has a mine-life of about 60 years and retains potential for further expansion. The cutting edge technology introduced at Caval Ridge means it is well positioned to contribute to further unlocking the value of the BMA business.
Through a focus on increasing productivity and expanding volumes at our existing mines including the Caval Ridge mine, MC aims to double attributable equity production in its metallurgical coal business by circa 2020. MC intends to further enlarge equity production held by MDP and to enhance the reliable supply of metallurgical coal in order to respond to prospective increases in global demand, including Japan, over the medium to long term.