Operated by BHP Billiton in Queensland, Australia, CMJV Coal Mine is one of the main suppliers of pulverized coal to the global seaborne market. The project has total resources of approximately 4 billion tons and an annual production capacity of about 6 million tons. Pulverized coal is a low-cost alternative to hard coking coal used in metallurgy.
CITIC Resources Australia holding 14% interest in the project is entitled to approximately 800,000 tons of coal products annually.
CITIC Resources holds a 14% participating interest in CMJV and interests in several Australian coal exploration projects. CMJV is a major producer of low-volatile pulverized coal for the international seaborne market.
The company will fully exercise its shareholder rights, and actively coordinate resources to assist CMJV's coal business in resolving capacity bottleneck issues.