Yancoals Steady Helm

The 255th Sydney Mining Club – Lunch
at 12:30 pm on 4 February 2021 at the Ivy Ballroom

Yancoal’s Steady Helm
Fresh Skipper David Moult Steers Out of First Year Chop

The market is liking what it sees. Nearly a year into the gap left by the departure of Reinholdt Schmidt, a $3.25 billion Yancoal still rules the roost as both the nation’s largest pure coal company and China’s largest ever investment in the sector.

Reinholdt is off carving it up with New Hope Coal and perhaps NSW’s best know operator – and by the way Sydney Mining Club member – David Moult is coming to open our forums for 2021.

How is Yancoal doing? Owning, operator or participating in 11 coal mines across New South Wales, Queensland and WA, Yancoal employs about 4,400 people. ASX-listed in 2012, it has been pretty much powering ever since. FY 19 Profit before tax profit to $767 million compared to $1,172 million in FY18, due primarily to the lower coal prices for its 100% export product.

There are some common misconceptions about Yancoal. While China’s Yanzhou Coal Mining Company Limited has a 62.26%holding, Yancoal exports to a range of markets across Asia, mainly to Japan and South Korea. Along with other Australian companies, Yancoal has been impacted by Chinese import bans and has had to foster alternative markets – to India, Pakistan and South America. Lots of Zoom calls going on there, we can be sure!

But life on the home front rolls on with ‘tuck in’ acquisitions of project interests and production costs being reined in under $61/tonne, a result Yancoal Chairman Baocai Zhang said: “was particularly impressive during a period in which industry cost inflation was evident”.

We look forward to welcoming you to a fresh 2021 season with this highly NSW-relevant curtain raiser.

  • Julian Malnic
Introduction by Julain Malnic, Chairman
13:00–13:15

Julian welcomes the members to the event and gives us a run-down on Mining and Resources News since the last event.

Chairman, Sydney Mining Club
Welcome Drinks
12:30–13:00

Have a drink while you re-connect with friends and colleagues from the club. Relax and unwind before sitting down to hear our speakers and enjoy a sumptuous meal.

  • David Moult
Yancoal
13:15–14:00

The market is liking what it sees. Nearly a year into the gap left by the departure of Reinholdt Schmidt, a $3.25 billion Yancoal still rules the roost as both the nation’s largest pure coal company and China’s largest ever investment in the sector.
Reinholdt is off carving it up with New Hope Coal and perhaps NSW’s best know operator – and by the way Sydney Mining Club member - David Moult is coming to open our forums for 2021. How is Yancoal doing? Owning, operator or participating in 11 coal mines across New South Wales, Queensland and WA, Yancoal employs about 4,400 people. ASX-listed in 2012, it has been pretty much powering ever since. FY 19 Profit before tax profit to $767 million compared to $1,172 million in FY18, due primarily to the lower coal prices for its 100% export product. There are some common misconceptions about Yancoal. While China’s Yanzhou Coal Mining Company Limited has a 62.26%holding, Yancoal exports to a range of markets across Asia, mainly to Japan and South Korea. Along with other Australian companies, Yancoal has been impacted by Chinese import bans and has had to foster alternative markets – to India, Pakistan and South America. Lots of Zoom calls going on there, we can be sure! But life on the home front rolls on with ‘tuck in’ acquisitions of project interests and production costs being reined in under $61/tonne, a result Yancoal Chairman Baocai Zhang said: “was particularly impressive during a period in which industry cost inflation was evident". We look forward to welcoming you to a fresh 2021 season with this highly NSW-relevant curtain raiser.

CEO, Yancoal
Coffee and wrap-up
14:00–14:30

The presentation will wrap-up, coffee will be served. There may be time for questions.

Drinks by the Pool
14:30 –

To continue the conversation members are invited to the Ivy's famous 'Pool Bar' upstairs

Julian Malnic

Julian Malnic

Chairman, Sydney Mining Club
David Moult

David Moult

CEO, Yancoal

    Event Detail

    4 February 2021 12:30
    4 February 2021 15:30
    Ballroom
    320 George Street, Sydney NSW 2000

    Sponsors