Yancoal has achieved its 2024 production guidance, producing 36.9 million tonnes (Mt) of attributable saleable coal (guidance: 35–39Mt) across the 12 months.
This saw Yancoal deliver a 10 per cent year-on-year increase in attributable production (up from 33.4Mt in 2023) and retain a favourable operating cost profile compared to its peers.
One of the positive drivers of Yancoal’s fourth quarter (Q4) was the increased run of mine (ROM) production at the Hunter Valley Operations, which sat at 5.3Mt, an 18 per cent increase from Q3 2024.
This was achieved through improved truck utilisation and favourable weather conditions.
Despite some wet weather and difficult geotechnical conditions throughout the quarter, Yarrabee also delivered a ROM production uptick, with 1Mt an 11 per cent rise from the prior quarter. The Queensland mine also achieved a 43 per cent production jump from the fourth quarter of 2023.
Yarrabee completed the year with a much stronger operational profile than the first six months, with an improved ability to handle geotechnical conditions and constrained mining conditions.
Middlemount was also able to produce higher ROM volumes, boosting production by 33 per cent quarter-on-quarter.
Yancoal faced some wet weather impact during the quarter, although conditions were favourable, and operations were able to recover quickly underpinning financial gains.
“The operating performance drove another strong financial performance,” Yancoal acting chief executive officer Ning Yue said.
“We added $480 million to our cash position and finished the year with a cash balance of almost $2.5 billion.
“We have the financial capacity to pursue corporate initiatives and make distributions to shareholders.”
The health and safety of Yancoal employees was also a key focus.
At the end of Q4 2024, the 12-month rolling total recordable injury frequency rate (TRIFR) was 6.7, an improvement from 7.1 at the end of Q3 2024.
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