Austar is one of the oldest mines within New South Wales, having been in operation for nearly 100 years.
Yancoal ownership - 100%
Located south west of Cessnock, 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.
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.