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. 

 

Futura Resources Limited operates within the black coal industry in Australia, comprising of coking coal, used in steelmaking, and thermal coal, used in 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.

 

We note that coking coal represents 48.3% ($58Bn) of industry revenue[1], with exports forecast to increase from 171 million tonnes in 2020-21 to 186 million tonnes by 2022-23 [2].

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[1] https://www.australianmining.com.au/news/report-reveals-record-breaking-resource-revenue/

(2) https://www.reuters.com/markets/commodities/australias-resources-revenue-hit-record-amid-ukraine-conflict-2022-10-03/