PERTH (miningweekly.com) – Coal miner Yancoal has reported a 102% increase in saleable coal production and a 96% increase in sales volumes for the June quarter, after completing the acquisition of a 49% interest in the Hunter Valley Operations, in New South Wales, in May this year.
The results also reflected Yancoal’s purchase of major Rio Tinto’s Coal & Allied subsidiary in 2017, for $2.69-billion.
Saleable coal production for the three months to June reached 12.7-million tonnes, up 129% on the previous corresponding period, with 9.16-million tonnes attributable to Yancoal.
Yancoal’s equity share of the sales volumes was also up by 96%, to 9.92-million tonnes, compared with the previous corresponding period. Thermal coal sales were up by 130%, to 7.6-million tonnes, while metallurgical coal sales were up by 31%, to 2.32-million tonnes.