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Investors

Yancoal's operations finished 2016 with a robust result driven by mine site improvements and the continued success of the tier one Moolarben Complex.

2016 FULL YEAR Results HIGHLIGHTS

  • Yancoal Australia Ltd (Yancoal) benefited from continued operational efficiencies and improved metallurgical and thermal coal prices in the second half of the year, to achieve a total Operating EBIT for the year ended 31 December 2016 of $52.3M before tax, up $253.1M on the year prior.

  • Full Year 2016 loss after income tax of $227.1 million.

  • Achieved total production of 21.2 million tonnes Run of Mine (ROM) coal (equity share) and 16.0 million tonnes saleable product coal (equity share).

  • Commenced development coal from the Moolarben Stage Two underground mine on schedule.

  • Maximised global market price improvements in the second half via blending across operations.

  • Implemented 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 (Watagan).

  • Transferred control of the New South Wales underground mining assets of Ashton, Austar and Donaldson to Watagan.

  • Moved the Donaldson operation to ‘care and maintenance’ following a reduction in mining activities and commencement of new feasibility studies.

  • Maintained cost reduction strategies across all sites and major projects in accordance with Yancoal’s long term business and investment strategy.

Established Yancoal Mining Services Pty Ltd (YMS), a fully-owned Yancoal subsidiary and employing entity for all eastern region underground operations staff.