123 million tonnes of coking coal was found in the Karin Basin, near Clermont. The mining company that discovered it, Vitrinite Pty Ltd, had made the decision to continue drilling despite the downturn. Due to its scarcity and value in steel production, high-quality coking coal can command up to three times the price of thermal coal. As new sources of high-quality coal continue to decrease globally, the fluidity of the Karin Basin coal is reported to rank among the world’s best.
