Austar is one of the oldest mines within New South Wales, having been in operation for nearly 99 years.
Located south west of Cessnock in the Newcastle Coalfields, Austar produces a premium semi-hard coking coal characterised as the highest fluidity and lowest ash coking coal in Australia, with low phosphorous and low alkalis. The coal is shipped through the Port of Newcastle.
Austar produced 0.82 million tonnes of total ROM coal for 2015, with saleable coal production of 0.72 million tonnes.
Yancoal Australia purchased Austar Coal Mine in December 2004, changing its name from Southland to Austar in the process. The underground coal mine recommenced commercial mining operations in 2006 as part of a $250 million capital investment program ensuring long-term viability and safety and providing local economic benefit.
Yancoal chose Austar to introduce a new technology called Longwall Top Coal Caving (LTCC) technology in September 2006. LTCC technology is ideal in thick coal seams and enables much greater resource recovery in seams such as Austar’s Greta Seam.
By using the LTCC mining method, a further 80% of the additional coal in the seam can be accessed and recovered, significantly improving the total recovery of the in-ground coal resource and overall mine economics.
GO TO: Austar Coal Website
*On 17 February 2016, Yancoal Australia (Yancoal) 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 Mining Company Pty Ltd, 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.