Investor Presentaiton
Narrabri - investment in 200 & 300 series panels
Developing the 200 series and Stage 3 requires a multi-year capex spend
200 series panels
•
.
200 series expected to provide improved geological stability
Annual production of ~7-8Mt expected for 5 year period
ramping up in FY24
Capex spend $250-300 million¹, including ~$145m for mains
-
$34m spent in FY22 and $77m spent in FY23
(including $51m on mains)
~$110m in FY24 (including ~$60m on mains)
majority expected FY24-26
More methane intensive geology
•
Quality slightly lower in LW203-LW204 relative to 100 series
associated with geological conditions
Stage 3 Extension Project – 300 series panels
.
·
Extends approved LOM from 2031 to 2044
Approvals progressing - IPC approval received; EPBC approval
and secondary approvals being finalised; Fed Court hearing in
Sep-23 re ECCQ action against Fed Env Minister
Project spend $800-850 million, including second longwall
(LW) for ~$300-350m, and -$230m for 300 mains:
=
$6m spent in FY23
-$75m in FY24 (including ~$45m on biodiversity offsets)
majority expected FY25-29, decision to procure LW required
end of FY24
Narrabri LOM average sustaining capex
~$7-$8 per tonne in addition to investment in 200 & 300 series
Note that current capital estimates relative to past estimates reflect increases in input costs (steel, copper, labour), progression of detailed design
works and costs associated with biodiversity offsets.
41 Note that all above capital expenditure numbers are on a managed basis (i.e. not Whitehaven's equity share) and capital estimates presented in real 2023 dollars.
1. Excludes other sustaining capex, environmental, regulatory and safety capex including biodiversity offsets.View entire presentation