Yancoal survives coal price drop
The Chinese-controlled Yancoal Australia (ASX:YAL) has weathered a near-halving in the price of its main product, thermal coal, in the three months to March and still augmented its substantial cash pile.
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Yancoal Australia Limited
Yancoal is a leading low-cost Australian coal producer in the global seaborne market, producing a mix of premium thermal, semi-soft coking and PCI coals for export.
Since 2004, Yancoal has built its business through strategic acquisitions; now owning, operating or participating in 11 coal mines across NSW, Queensland and Western Australia. In 2020, Yancoal produced 38.3 million tonnes of saleable coal for export into international markets. Over the past two years, Yancoal has paid dividends to shareholders totalling almost $1 billion.
Yancoal is a public company, listed on both the Australian Securities Exchange (ASX: YAL) and the Hong Kong Stock Exchange (HKSE: 3668), and is majority owned by Yanzhou Coal Mining Company Limited (Yanzhou).
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News
Coal slump hits Whitehaven and Yancoal hard
The impact of the slump in global thermal coal prices has become evident in the latest quarterly reports from major coal miners and exporters, Whitehaven and Yancoal Australia.
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Market All Fired Up over Coal Stocks
More record highs for local coal miners Whitehaven and New Hope as punters sought to buy to grab extra profits for coal exports not even earned yet after the OPEC+ oil output cut.
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Coal Space Rolling on, Rolling in it
Whitehaven Coal shares touched record levels this week after revealing more rewards from the coal price boom for shareholders to enjoy; others in the space are doing equally well.
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Yancoal Parent Bid Dies of Natural Causes
Yancoal Australia’s Chinese state-owned parent Yankuang Energy has quietly dropped its now vastly underpriced takeover offer for the minorities in the local coal miner.
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