Option chain shows key data for Whitehaven Coal's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for Whitehaven Coal.

Whitehaven Coal (OTC:WHITF) Stock, Option Chain

Whitehaven Coal is a large Australian independent thermal and metallurgical coal miner with mines in the Gunnedah Basin, New South Wales. It also bought Blackwater and Daunia, two coking coal mines in Queensland, from BHP and Mitsubishi in April 2024. In addition, it owns the large Vickery and Winchester South deposits in New South Wales and Queensland, respectively. Coal is railed to ports in Newcastle and Queensland for export to Asian customers. Along with expanded production at Maules Creek and Narrabri, we expect its share of salable coal production to approach 32 million metric tons from fiscal 2029, from about 13 million in fiscal 2023. Initial development of Vickery will see around 1 million metric tons of extra equity production, with potential expansion to 7 million metric tons.

coal mining ai

News

Commodities

Asset Sales

Global

NISTF

WHITF

Whitehaven Coal sells 30% stake in Blackwater mine for $1.08 billion to Nippon Steel and JFE Steel, securing long-term coal supply for steel production.

Whitehaven Sells $1.08B Stake In Major Australian Coal Mine To Japanese Steelmakers

Analyst Color

Asia

Markets

ITOCY

NGLOY

Coal market tight due to supply outages in Australia and US. Prices may spike in fall when Asia restocks. Demand side may cap rally due to economy.

Coal Prices Set To Rise When Restocking Begins After US, Australia Mine Outages

Movers & Shakers

Intraday Update

Movers

Trading Ideas

General

ABWN

AGTK

ALEAFIA HEALTH INC ORD by Aleafia Health Inc.

ALEAF

AQMS

Alterity Therapeutics Limited - American Depositary Shares

ATHE

ATHX

ARTEMIS THERAPEUTICS INC by Artemis Therapeutics, Inc.

ATMS

ATYG

BGFT

BLOZF

BOIRF

BWLVF

CBRI

CCGN

CHMR

CMGHF

COCP

CORV

COTE

CSPUF

DVLY

DYLLF

ECOR

ELGX

FERL

FINCANNA CAPITAL CORP by Fincanna Capital Corp.

FNNZF

FUAPF

FVGCF

FVVSF

GGBXF

GLBS

GTBP

GURE

HEMP

HESG

HGEN

HKTTF

HUABF

HVBTF

ICABY

IPSEY

ISIG

IWSY

KINS

KRKR

LATF

LFUGF

LFUGY

MCET

MDIN

MGXMF

MIST

MLXEF

MMJJF

MOAEF

NHNKY

NIMU

NXTTF

OCANF

OGDCF

OLVRF

PARNF

PHAT

PHTCF

PHUN

PMSO

PRTR

PSIX

QBAN

QEGY

QOIL

RETC

RKAGY

RTTR

RVLT

SEED

SEEK

SFEG

SING

SNNAF

SPVNF

SUIC

TBEV

TGIFF

TLGN

TLRY

TOCA

TRPX

TWMC

UBQU

UVSE

VFRM

VGGOF

VREOF

VVCIF

WDDMF

ICC INTL CANNABIS CORP by ICC Intl Cannabis Corp.

WLDCF

Stocks That Hit 52-Week Lows On Wednesday

WHITEHAVEN COAL LTD by Whitehaven Coal Ltd,

Whitehaven Coal Ltd

Australian miner Whitehaven Coal (OTC:<a class="ticker" href="https://www.benzinga.com/stock/WHITF#OTC">WHITF</a>) has announced the sale of a 30% stake in its Blackwater metallurgical coal mine, located near Emerald in Queensland. The deal, valued at $1.08 billion, involves selling a 20% stake to Nippon Steel (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NISTF#OTC">NISTF</a>) and a 10% stake to JFE Steel, two <a href="https://www.benzinga.com/topic/steel">leading Japanese steelmakers.</a>
Per Bloomberg's <a href="https://www.bnnbloomberg.ca/business/international/2024/08/21/whitehaven-coal-to-sell-stake-in-blackwater-for-108-billion/">report</a>, Whitehaven will manage this new yet unnamed joint venture, securing a long-term supply of high-quality coal for Nippon Steel and JFE Steel&#8217;s steel production.
&#8220;As long-term customers of Blackwater, their co-investment reflects the importance of Blackwater metallurgical coal in the seaborne market. The formation of this joint venture with such high-quality participants validates the asset purchase by Whitehaven, the coal quality, and Whitehaven's plans as the operator of Blackwater,&#8221; said Whitehaven's CEO, Paul Flynn.
Now Read: <a href="https://www.benzinga.com/m-a/24/08/40483226/consol-energy-and-arch-resources-to-merge-in-5b-domestic-coal-entity">Consol Energy And Arch Resources To Merge In $5B Domestic Coal Entity</a>
The agreement includes market-based offtake agreements that guarantee a steady flow of Blackwater coal to these major customers when the global coal industry faces uncertainty due to the shift towards cleaner energy sources.
&#8220;We decided to invest to ensure stable raw material procurement and secure earnings even if market conditions change," Nippon Steel's managing executive officer Ryuichi Nagai told Reuters.
&#8220;We&#8217;ll continue striving to secure quality resources,&#8221; he added, expressing openness to acquiring more assets in the sector.
The Blackwater coal mine, one of Australia&#8217;s largest metallurgical coal mines, produces between 12 million and 13 million tons of coal annually, with a strike length of 80 kilometers.
Whitehaven purchased the Blackwater mine in April 2023 as part of a $4.1 billion deal with BHP and Mitsubishi Corp that also included the Daunia mine. The acquisition transformed Whitehaven from a New South Wales-focused coal producer into a significant player in Queensland's coal industry.
With the sale of a stake in Blackwater, Whitehaven will reduce debt and potentially increase shareholder returns. Flynn noted that the deal &#8220;will immediately strengthen Whitehaven's balance sheet and provide enhanced financial flexibility.&#8221;
The transaction is expected to be completed in the first quarter of 2025.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/m-a/24/08/40424535/gold-mining-m-a-heats-up-as-rising-metal-prices-boost-cash">Gold Mining M&amp;A Heats Up As Rising Metal Prices Boost Cash</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Image created using artificial intelligence via Midjourney.

The market for coal used to make steel is in the summer doldrums, but supply outages in Australia and the United States are providing underlying tightness that could cause prices to spike in the late summer and fall once Asian <a href="https://www.benzinga.com/topic/steel">steelmakers start restocking.</a>
Mine fires in Australia and West Virginia and a lock and dam closure in Alabama are causing latent tightness that won't become visible until India and China come back to the market between August and October. Once they do, prices are likely to move higher but remain capped below record highs by a sluggish global economy.&nbsp;
"The supply side looks very supportive of met coal prices,"&nbsp;John Berman, chief investment officer with natural resources&nbsp;investment management&nbsp;company&nbsp;Berman Capital Group, told Benzinga. "It's the demand side that is potentially the brakes on any price rally."
Also Read: <a href="https://www.benzinga.com/markets/asia/24/06/39173971/coal-stocks-take-a-breather-as-trading-sentiment-sours-in-commodities-markets-was-the-election-in-in">Coal Stocks Take A Breather As Trading Sentiment Sours In Commodities Markets: Was The Election In India A Factor?</a>
Australia's Grosvenor Outage
Among the top concerns of the market right now is <a href="https://www.benzinga.com/m-a/24/07/39623378/anglo-americans-coal-asset-sale-faces-hurdle-after-fire-at-major-mine">the outage</a> at Anglo American's (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTC">NGLOY</a>) Grosvenor Mine, which supplies more than 1% of global seaborne steelmaking coal.
An explosion and fire forced the company to suspend production at the mine late last month, knocking out up to 3 million tons of Anglo&#8217;s total expected 15-17 million metric tons of steelmaking coal output for 2024. On Thursday, the miner revised that guidance to 14-15.5 million metric tons.
The day after the explosion, Anglo said the outage could last several months because of likely damage underground.
Last week, Australian mining union officials said they were worried that Grosvenor might close permanently, although they acknowledged that Anglo was trying to recover the mine.
Metallurgical coal prices initially jumped on the Grosvenor news, but then retreated as Anglo reportedly assured customers of third quarter deliveries. However, the company reportedly said it wouldn't be able to meet delivery obligations in the fourth quarter.
"While the incident will continue to provide support and tighten supply, it appears that part of the initial price rally was speculative,"&nbsp;RBC Capital Markets&nbsp;said in a note.
US River Transportation Outage
In the United States, the Army Corp of Engineers closed the Holt Lock and Dam on the Black Warrior River in Alabama on June 22 as a safety precaution because of cracks and leaks. The river is a key artery for barge transportation of coal.
The infrastructure will be closed for three to five months while a new steel-enforced bulkhead can be manufactured, Army engineers said.
The closure means Peabody Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTU#NYSE">BTU</a>) and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37295857/warrior-met-coals-ballooning-development-costs-prompt-analysts-to-rethink-projectio">Warrior Met Coal Inc. </a>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCC#NYSE">HCC</a>) will have to find alternate transportation, Matthew Warder, an analyst with The Coal Trader newsletter, told Benzinga. The companies didn't respond when asked for comment.
US Longview Mine Outage
On June 30, the Longview Mine in West Virginia caught fire, according to media reports. The federal Mine Safety and Health Administration is investigating the incident. 
As of Friday, the mine remained out of commission, sources familiar with the matter told Benzinga. One of the sources said the mine could reopen this week while another said workers had reentered the mine last week.
Industry chatter suggests the mine won't be back to full production for months, although one of the sources said it is the operator's goal to restart mine production as soon as possible.
The mine operator,&nbsp;Allegheny Metallurgical, didn't respond to requests for comment. Privately held Allegheny is a partnership between privately held U.S.-based companies&nbsp;American Metals &amp; Coal International Inc.&nbsp;and&nbsp;JAZ Ventures, South Korea's&nbsp;Posco Holdings&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>) and Japan's&nbsp;Itochu Corp.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>) .
Based on a similar incident at Peabody's Shoal Creek Mine last year, Warder said the Longview outage could keep 0.5-1.5 million short tons of high volatile metallurgical coal off the market in 2024 and up to 3.5 million short tons off next year if the mine remains offline.
Higher Prices to Benefit Miners
The three incidents have tightened metallurgical coal supply, but at the moment there isn't a strong upward price reaction because steelmakers in India, China, Europe and Brazil aren't yet looking to make purchases on the spot market to replenish their stocks. Meanwhile, U.S. coking coal buyers are just getting their annual procurement process started this month.
"This is a very sleepy time in the market," Warder said.
Late last month, Australian premium coking coal futures, an industry benchmark, could be seen at $233 per metric ton, a far cry from their record high above $360 set in October.
When heavyweight steel producers India and China come back to the market between August and October, the demand may push prices higher than they would otherwise go if not for the production outages in Australia and the United States.
Warder thinks $300 steelmaking coal prices are in play sometime in the fall, although the market won't get back to the highs from the previous year because of a weaker Chinese economy.
"I think we could see $300 in the short term once the restocking season gets underway, although I don't know how sustainable that price will be with current demand," Berman said, adding that "$360, I think, is very unlikely without robust Chinese demand this year."
Firmer prices stand to benefit coking coal producers, Warder said.
That includes BHP and Alpha Metallurgical Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMR#NYSE">AMR</a>), he added. 
Even with Grosvenor out, Anglo American still stands to benefit from its other metallurgical coal production, he said. And Warrior can use other transportation to get its coal to market, meaning the dam and lock outage isn't a showstopper for the company, he said. Peabody will also be able to get its Alabama coal to market, while it also produces Australian coal to sell, he said.
Berman agrees that Warrior and Alpha will be among the biggest beneficiaries as prices move higher. He also adds Australian miner&nbsp;Whitehaven Coal Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/WHITF#OTC">WHITF</a>) to the list.
"Warrior will likely produce a little more free cash flow through the end of this year than I was expecting," Berman says.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/07/39651178/canadian-regulators-ok-glencore-teck-resources-deal-future-m-a-sanctions-need-exceptional-circumst">Canadian Regulators OK Glencore, Teck Resources Deal: Future M&amp;A Sanctions Need &#8216;Exceptional Circumstances&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Comments

Whitehaven Coal

Whitehaven Coal (WHITF) Options

No option chain data available. Please try again later

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga