Yancoal announces it will stand down Austar mine employees

Company News

by Anna Napoli

Yancoal (ASX:YAL) has announced it will start standing down employees from its Austar operation as the company awaits the outcome of legal proceedings regarding two prohibition notices issued by the Industrial Relations Commission in relation to the underground coking mine.

The company says, where possible it will redeploy the majority of employees to other Yancoal-owned underground operations.

In 2014 two men died at the Cessnock mine after a wall collapsed.

The coal miner says until all legal avenues have been exhausted and the company is cleared to re-enter the mine it is unable to continue proposed longwall activity.

The company says as the matter is the subject of legal proceedings an estimated date for a return to production is currently unavailable.

Shares in Yancoal (ASX:YAL) closed down 3.45 per cent lower to 14 cents on Friday

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.