A 90-plus per cent increase in recoverable coal reserves at the Blackwater Mine has strengthened Whitehaven Coal’s long-term production outlook, underpinned by an extensive drilling and modelling campaign across the Queensland operation.
Whitehaven said Blackwater’s total recoverable reserves have risen from 191 million tonnes (Mt) to 365Mt, while total coal resources increased from 1817Mt to 1919Mt.
The update was supported by the inclusion of 4267 structural and 211 coal quality drillholes, alongside refined economic assumptions and the addition of new prospective mining areas.
This comes after June 2025, when Whitehaven delivered a 15 per cent quarter-on-quarter increase in run-of-mine (ROM) coal production, exceeding its 2024-25 financial year (FY25) guidance, and producing 10.6Mt of ROM production.
Whitehaven said the revised estimates reflect improved geological confidence, updated cost and pricing assumptions, and progress across approval pathways that have enabled the incorporation of additional mining areas into the life-of-mine plan.
Whitehaven chief executive officer (CEO) and managing director Paul Flynn said that this resource and reserves update reflects the steady progress made to integrate and advance its Queensland operations acquired from BMA.
“This uplift to resources and reserves at Blackwater unlocks future mining areas and reinforces its position as a long-life asset and the strong potential for growth and optionality at the Blackwater Mine,” Flynn said.
The increase in recoverable reserves was driven by three key factors, including the reclassification of resources following additional drilling, revised macroeconomic and cost assumptions, and the inclusion of new mining areas such as the Blackwater North Extension and SA2.
Whitehaven said additional drilling improved confidence in active mining areas, allowing inferred resources to be upgraded into indicated and measured categories and directly converted into reserves.
The updated economic modelling incorporated Whitehaven’s latest cost and pricing forecasts, confirming positive cash margins across all declared reserves.
Progress across environmental and heritage approval processes also enabled the inclusion of the SA7 and SA10 areas within mining lease 1759, adding 70Mt to recoverable reserves, while SA2 within mining lease 1860 contributed a further 36Mt.
Marketable coal reserves also increased significantly, rising from 169Mt in August 2025 to 298Mt, reflecting the uplift in recoverable reserves and confirmation that modelled yields align with historical processing performance.
The marketable reserve mix continues to be dominated by metallurgical coal, with 283Mt attributed to metallurgical products and a smaller 15Mt thermal coal component, produced under established coal handling and preparation plant operating regimes.
Whitehaven said the updated resource and reserve statement reinforces Blackwater’s status as a mature, long-life operation with established infrastructure, rail access to the RG Tanna Coal Terminal, and a strong foundation for continued production over the long term.