Characteristics Of The Australian Coal Industry

1638 Words7 Pages
Summary Introduction CHARACTERISTICS OF THE AUSTRALIAN COAL INDUSTRY Top Ten Coal Producers (2013e) EXPORTS Yancoal is one of Australia’s most innovative coal exploration companies and was formed in 2004 with the intention of acquiring and further developing Australian coal assets and to introduce its underground mining technique, Longwall Top Coal Caving(LTCC). Of the many coal mining companies Australia has, Yancoal is one of the most technologically advanced, being the first among Australian coal companies to successfully introduce the pioneering LTCC method in 2006 after it acquired the former Southland Coal Mine in the Hunter Valley. In 2009, Yancoal completed a successful takeover of Felix Resources . In July 2012, Yancoal…show more content…
In addition to increasing existing production capacity, Yancoal’s organic growth strategy aims to increase efficiencies, reduce operating unit costs and enhance profitability across allmine sites. Yancoal’s Strategic Objectives • Focus on growing production from the current assets • Improve efficiency of all the operations to hold and reduce costs • Extend the mine life at all assets • Actively consider all available acquisition opportunities • Seek opportunities to enhance the application of proprietary technologies Yancoal is one of Australia’s most innovative coal exploration companies and was formed in 2004 with the intention of acquiring and further developing Australian coal assets and to introduce its underground mining technique, Longwall Top Coal Caving(LTCC). Of the many coal mining companies Australia has, Yancoal is one of the most technologically advanced, being the first among Australian coal companies to successfully introduce the pioneering LTCC method in 2006 after it acquired the former Southland Coal Mine in the Hunter Valley. In 2009, Yancoal completed a successful takeover of Felix Resources . In July 2012, Yancoal completed a merger with Gloucester Coal, and following the listing of Yancoal on the ASX in June 2012, Yancoal became one of Australia 's largest listed pure-play coal producers. Yancoal 's major shareholder is Yanzhou Coal Mining Company Limited in the People’s Republic of China. Yanzhou is publicly listed on
Open Document