Bathurst Resources (ASX: BRL), a coal mining company with operations in New Zealand and Canada, has released its quarterly report for September 2025, reporting a consolidated EBITDA of $5.2 million. The company, which focuses on metallurgical and energy coal, confirmed that it is maintaining its full-year consolidated EBITDA guidance of $35 million to $45 million. As of September 30, the company’s consolidated cash position, including restricted short-term deposits, totalled $155 million, an increase of $16 million compared to the same period in 2025.
Significant progress was made on development projects during the quarter. In New Zealand, the Buller Plateaux Continuation Project (BPCP) achieved key milestones as it progresses towards submitting its Fast Track Approvals (FTA) application. Once permitted, this project aims to extend mine operations for an additional 15 years. In British Columbia, Canada, an updated Feasibility Study for the 100%-owned Tenas Project confirmed it remains a compelling steelmaking coal development opportunity.
The company noted that while the financial performance aligned with forecasts, the EBITDA was $3.4 million lower than the same period last year, primarily due to reduced export segment earnings and lower South Island domestic segment sales. This decrease was attributed to increased mining costs, the use of stockpiles to meet sales volumes, and a lower price per tonne due to a lower HCC benchmark price. However, the North Island domestic segment increased overburden removal and coal production compared to the same period in 2025.
Bathurst Resources also successfully executed a new two-year agreement with Genesis Energy to supply coal to the Huntly Power Station (HPS) in September. The company reported three lost time injuries (LTIs) during the quarter, and is focused on implementing targeted prevention strategies to reduce musculoskeletal injuries. The HCC benchmark price rebounded during the quarter, increasing from a low of USD $170/t to above USD $190/t at the end of September.
