Just received this notice today, as a shareholder in Malabar.
With NHC owning ~23% this could eventually add to their growth pipeline. Malabar is currently forecast to produce around 6-7 million tonnes so this could increase that to around 12 million.
With the current min ramping up over the next 2 years, I suspect the play here is to see if they can get another underground mine underway, to co-incide with the timing of the closure of Mt Arthur in 2030 and take on existing employees, plus take on rail and port availability. It will probably be very cost effective given it will utilise a lot of existing infrastructure. Approvals might be a tough ask, however.
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