Oct 17, 2020

CQ coal terminal expected to be sold off

CQ coal terminal expected to be sold off

Canada’s Brookfield Asset Management plans to launch an initial public offering (IPO) for its $1.4 billion Dalrymple Bay Coal Terminal, Reuters reports.

Brookfield had put its plans for a sale or listing on hold in March amid coronavirus travel restrictions, but talks resumed with investors in July, sources said.

The Reuters report indicated that DBCT would meet with Australian and offshore investors next week, although Brookfield declined to comment.

The common-user coal export terminal is based at Hay Point, 37km south of Mackay, and about 80 per cent of its exports are metallurgical coal and 20 per cent thermal. 

With an export capacity of 85 million tonnes per annum, it services a host of coal mines in Queensland’s Bowen Basin

The IPO plans come in the wake of reports that China has put a freeze on accepting Australian coal imports amid rising trade tensions between the countries.