Yancoal increases profit and production
PERTH (miningweekly.com) – Along with increasing coal production in the first half of 2019, ASX-listed Yancoal Australia has reported an increase in profit after tax, which reached $564-million, compared with the $361-million in the previous corresponding period.
Revenue from continuing operations remained stagnant over the period under review, at $2.3-billion, while operating earnings before interest, taxes, depreciation and amortisation declined from $980-million to $940-million between the first half of 2018 and the first half of 2019.
Yancoal’s share of run-of-mine production reached 22.7-million tonnes in the six months under review, up from the 20.7-million tonnes in the previous corresponding period, while the company’s total saleable coal production reached 17.8-million tonnes, up from 16.4-million tonnes.
Sales volumes of attributable mine production also increased from 15.7-million to 16.5-million tonnes in the same period.
“At the half-way point of the year, Yancoal remains on target to achieve our 2019 operational goals, annualised attributable saleable coal volume is 35.6-million tonnes, compared to guidance of around 35-million tonnes,” said CEO Reinhold Schmidt.
“In response to market conditions impacting the realised price we achieved in the latter months of the first half, we are focused on optimisng our sales mix and volumes for the current international market.
“Coal remains a critical part of global baseload energy supply, and Yancoal is an integral part of the solution to satisfy the ongoing international demand for high-quality coal.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...
VISIT SHOWROOM
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
