Steelmakers are looking for new sources of high-quality coking coal, last month’s S&P Singapore Coking Coal Conference reinforced.
The conference, part of S&P’s annual Ferrous Week, brought together steelmakers and coking coal companies to discuss the current environment in the supply chain for the critical steelmaking ingredient.
Key themes included the increasing cost of producing coal in Queensland, growing demand from new blast furnace capacity across India and Southeast Asia, and a shortage of new projects to meet this demand.
Jameson Resources’ Crown Mountain coking coal project in British Columbia, Canada attracted interest from steelmakers at the conference as an advanced prospect that could meet this demand.
For Jameson chair Michael Gray, this reception reinforced that the supply risk is greater than the demand risk.
“The conversations in Singapore confirmed what we already know,” Gray said, having represented Jameson on a discussion panel at the event. “Steelmakers, particularly in India, are actively looking beyond traditional supply sources. Crown Mountain is an advanced project that could meet that need and the interest we received in our development timeline reflects that.”
Located in the world renowned Elk Valley coalfields, Crown Mountain shows similar geology to the operating Elk Valley Resources operations (owned 77 per cent by Glencore) it sits between. The project has access to Canadian Pacific’s common-user rail linking the Elk Valley coalfields to deep-water export terminals, with a skilled labour pool in the surrounding towns.
A Bankable Feasibility Study (BFS) completed in July 2020 established Crown Mountain as a high-quality, low-cost steelmaking coal development.
A 2025 update to the BFS found that despite a 28 per cent increase in pre-production capital and a 15 per cent rise in operating costs, the project’s net present value had more than doubled.
With a 15-year mine life and average annual exports of 1.96 million tonnes forecast, the geological and engineering groundwork at Crown Mountain is done. What remains are the key environmental approvals.
“Crown Mountain’s cost competitiveness compared to current and planned production is compelling,” Gray said.
“The project is well-positioned to meet the expected shortfall in premium steelmaking coal supply in the medium and long term. And now Crown Mountain is seeing progress from a permitting perspective.”
In April, Jameson raised $3 million, with funds directed primarily towards completing the Final Environmental Assessment Application. The raising was followed in May by a significant regulatory milestone, when the British Columbia Environmental Assessment Office issued the Section 27 Notice for Crown Mountain, confirming completion of the Environmental Application Review and requesting submission of the Final Revised Environmental Application, expected in October 2026.
“Crown Mountain is the only steelmaking coal project in Canada to reach the final joint Provincial and Federal environmental assessment stage,” Gray said. “The completion of the application review is a major milestone and the culmination of many years of comprehensive technical studies.
“Based on commitments from British Columbia Ministers to fast-track review of that application, we are seeking to substantially progress finalisation of the environmental certificate by the end of 2026.”
In June, Jameson also signed an Early Training and Employment Initiative with Yaq̓it ʔa·knuqⱡi’it First Nation, a key milestone in securing Indigenous community support. Under the agreement, the company committed to the joint development of employment programs, apprenticeships and work placement pathways for Nation members ahead of construction.
With the supply gap in the coking coal sector showing no signs of closing, Crown Mountain’s opportunity to fill it may be approaching.
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