Yancoal is one of Australia's largest and leading coal miners.
Yancoal Australia Ltd (Yancoal) produces approximately 15.5 million tonnes of saleable (equity basis) thermal and metallurgical coal per annum for export into international markets.
Operating four sites and managing five others across New South Wales, Queensland and Western Australia, Yancoal employs approximately 2,000 people, sourcing the majority of our people from the local communities in which we operate.
Yancoal’s New South Wales region includes the mines of Moolarben and Stratford Duralie, with the Queensland region comprising Yarrabee and the Middlemount Joint Venture.
Listed on the Australian Securities Exchange, Yancoal also manages the Cameby Downs and Premier coal mines in Queensland and Western Australia respectively, on behalf of its majority shareholder Yanzhou Coal Mining Company Limited (Yanzhou) and the Ashton, Austar and Donaldson mines in New South Wales on behalf of Watagan Mining Company Pty Ltd (Watagan).
As at 31 December 2015, Yancoal had 994,216,659 shares on issue. The two largest shareholders were Yanzhou Coal with 78.0% holding and the Noble Group with 13.2%.
On 17 February 2016, Yancoal Australia announced a new debt funding arrangement to secure up to US$950 million via the issuing of nine-year secured debt bonds by a newly established Yancoal subsidiary, Watagan, to a consortium of financiers comprising Industrial Bank Co. Ltd, BOCI Financial Products Limited and United NSW Energy Limited.
On and from financial close, effective from 31 March 2016, Yancoal ceased to control the Austar, Ashton and Donaldson assets, but remains the exclusive provider of mine management, marketing, infrastructure and other corporate support services under 10-year contracts.