Bowen Basin Queensland
Futura Resources Ltd is the owner of two adjacent coking coal projects, Wilton and Fairhill, located in close proximity to Emerald, in the Bowen Basin, Queensland.
The projects comprise two large, near-surface coking coal deposits with a global resource of 2.6bt, incl over 700mt at less than 100m depth.
The Company’s primary source of operations will be the Wilton and Fairhill Projects. Both of these Projects showcase local infrastructure to advance the projects towards the extraction of hard coking coal.
The black coal industry in Australia comprises coking coal, used in steelmaking, and thermal coal, used in energy production. We note that coking coal represents 62.2% of industry revenue and is thus representative of the industry in which Futura Resources Ltd operates.
Black coal is a key input into both steelmaking and energy production. Coking coal, also known as metallurgical coal, is used to create coke, one of the key irreplaceable inputs for the production of steel.
 IBISWorld Industry Report B0601, “Black Coal Mining in Australia”, September 2017.