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.