Yancoal reveals coal reserves for results

Company News

by Rachael Jones

Coal company Yancoal (ASX:YAL) have announced their marketable proved and probable coal reserves hit 923 million tonnes for the year ending 31 December 2017.

The coal producer and developer, operating open cut and underground coal mines in New South Wales, Queensland and Western Australia says the figures apply to its 2017 year.

The company says its leases are sufficient in duration to allow all its coal reserves to be mined in line with its production schedule.

As for its total coal reserves for the 2017 year, that came in at 8,609 million tonnes.

Shares in Yancoal closed about 3.1 per cent lower yesterday to $0.15.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.