Yancoal Australia Q4 saleable coal production surges 92% on yr

sxcoal.com Company,  Production & Sales 2018-01-23 10:14:00

Yancoal Australia, international subsidiary of China's state miner Yanzhou Coal Ming, produced 8.65 million tonnes saleable coal (equity share) in the fourth quarter, surging 92% on the year prior, said the listed company late January 19 in quarterly activities report.

The output hike mainly came from "the significant increase in production generated by the addition of the newly acquired Hunter Valley Operations joint venture and Mount Thorley Warkworth mines", which contributed 3.45 million tonnes to the total with a 56% year-on-year increase.

Full-year production (equity basis) totaled 23.44 million tonnes, up 47% on the year, said the report, including 4.92 million tonnes from the Hunter Valley and Mount Thorley Warkworth mines, growing 31%.

Over the reported quarter, Yancoal's sales volumes (equity share) amounted to 11.31 million tonnes, up 83% compared with the same period of 2016. That included 3.45 million tonnes from the newly acquired with a 56% year-on-year increase.

Full-year sales (equity basis) surged 48% from a year ago to 28.54 million tonnes – thermal coal 19.55 million tonnes (69% YoY) and met. coal 8.99 million tonnes (16% YoY).

In New South Wales, Yancoal operates the Moolarben, Hunter Valley Operations, Mount Thorley Warkworth and Stratford Duralie open cut mines, and manages the underground mines of Austar, Ashton and Donaldson on behalf of Watagan Ming Company.

Yancoal acquired Hunter Valley Operations and Mount Thorley Warkworth assets from Rio Tinto on September 1.

In October, the company commenced longwall production at the Moolarben underground mine.

Yancoal is Australia's largest pure-coal producer, with operations in NSW, Queensland and Western Australia. It is majority owned by Yanzhou Coal Mining Company (65.46%) and Cinda International HGB Investments (16.7%).

According to a recent management presentation, Yancoal and its partners have more coal in reserve than Whitehaven Coal Ltd  and New Hope Group. It's third only to BHP Billiton Limited and Glencore.

In December, Yancoal announced plans to boost coal production to between 20 and 30 million tonnes and will consider making debt repayments and dividends.

Yancoal shares closed up 3% at $0.16 on January 22.

(Writing by Alex Guo  Editing by Harry Huo)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

Share this article
Connect with us

Editors Recommendations

1 Tankers running on fumes as shipping fuel switch causes delays 2019-12-06

Disruption to shipping from the long-anticipated switch to more environmentally friendly marine fuels has finally arrived, exacerbated by logistical problems as much as any shortage of the cleaner fue

2 China maintains long-term thermal coal prices within "green range" in Jan-Nov 2019-12-06

China has generally maintained long-term thermal coal prices at stable and reasonable level, with supply and demand in loose balance since this year, said the China National Coal Association.

3 China Coal Daily Track (Dec 6) 2019-12-06

Thermal coal Production area Coal production dropped in Yulin of Shaanxi as some local large miners lowered operations after completing annual tasks. Some local mines raised coal prices slightl

4 Indonesian thermal coal prices inclined to stabilize in near term 2019-12-06

Indonesian thermal coal prices held largely steady in China's seaborne import market, a situation traders thought would continue in the short run, as both bullish and bearish factors were interweaved

5 Chinese spot thermal coal loses ground on soured outlook 2019-12-06

Spot thermal coal traded at China's Bohai-rim ports started losing ground after inching up for nearly a month, owing primarily to soured outlook after CHN Energy cut November monthly term contract pri

6 Gazprom's natural gas production up in Jan-Nov 2019-12-06

Russian giant Gazprom said its natural gas production during the past eleven months of 2019 had hit an estimated 454.2 billion cubic meters. Compared to the corresponding period in 2018,

7 Inner Mongolia thermal coal prices slide in Nov, weakness to extend 2019-12-06

Thermal coal prices in Inner Mongolia, China's biggest coal production base, dropped moderately amid weak demand in November, official data showed. Average mine-mouth settlement price for

8 Shandong Rizhao port coal throughput keeps rising 2019-12-06

Coal handlings have been on rapid increase at Rizhao port in eastern China's Shandong province, pointing to more significant role played by the transfer hub. With an annual growth a

9 China steel prices tick higher in week ending Dec 1, MOC 2019-12-06

China's steel products prices edged up 0.4% in the week through December 1 compared with the week before, extending a rally for five weeks and rebounding 2.5% from recent low in late October, showed d

10 Chinese steel industry to come under more headwinds, CISA 2019-12-06

Chinese steel industry is likely to come under more headwinds in the next year, as demand may continue to be hurt by slowing economic growth, and production will remain active to lead to a surplus, sa

Most Read Articles

1 Mongolian coal trucks stranded at transit area amid China's import curbs 2019-11-27

Around 4,000 coal trucks were stranded at Tsagaan Khad, a key transit station in Mongolia for coal delivery to China, mainly due to slowed clearance at Ganqimaodu border crossing in China connecting M

2 China's Oct coking coal imports hit 8-mth low 2019-11-25

China's coking coal imports toughed an eight-month low in October, showed the latest customs data. The country took 5.7 million tonnes of coking coal from its main supplying countries las

3 Chinese traders hold off thermal coal purchases as long-term contract talk nears 2019-11-26

Many Chinese traders were holding off purchases in the domestic thermal coal market as the 2020 long-term contract negotiations draw nearer. The contract talk between leading coal miners

4 An overview of Chinese coal imports in Oct 2019-11-27

China's coal imports further lost strength in October, as utilities were not keen to buy amid high stocks and mounting concerns over tighter government restrictions. The world's top consu

5 China Oct thermal coal imports decline for 2nd mth, customs 2019-11-25

China's thermal coal imports dropped for the second consecutive month in October, dragged by tighter import curbs as the world's top consumer looks to rein in this year's total import amount.

6 China import thermal coal prices rebound on bullish outlook 2019-11-27

Chinese seaborne import thermal coal market is embracing a rebound after some Indonesian miners raised offers for low-calorific value coal early this week. This is backed by expectations

7 Indonesian thermal coal sinks to 3-mth low in Chinese import market 2019-11-25

Indonesian low-calorific value coal sank to a three-month trough late last week in Chinese import market, pressured down by reduced trading activity after China tightened import restrictions.

8 Shanxi coking coal prices backed by output falls; Mongolia coal further weakens 2019-11-26

Coking coal prices were backed by regional output falls in northern China's Shanxi province recently, as production was curtailed or suspended at some local mines, alongside stricter safety inspection

9 China thermal coal trades stay unprofitable despite improving market 2019-11-25

Some Chinese domestic traders reported thermal coal trades were unprofitable for the time being at northern China ports, even though the market has improved since mid-November. "Brokers c

10 China coking coal prices mixed; Dec-laycan Australian coal edges up 2019-11-29

Coking coal prices were mixed in many Chinese main production areas on November 28, with prices of low- and high-sulfur primary coking coal climbing up while that of blending coking coal sagging due t

Scan to download sxcoal.com mobile APP