Yancoal Australia Ltd (Yancoal) was established at the end of 2004 and is established by Yanzhou Coal Mining Co., Ltd. through acquisition of assets from a number of Australian coal mines. Yancoal owns and manages 11 coal mines such as Moramoto, HVO and MTW, with 36.5% of Newcastle PWCS ports and 27% of Newcastle infrastructure group ports and other assets. Yancoal's chairman is Li Weimin and his chief executive officer is Cunliang Lai. It is headquartered at Level 11, 68 York Street, Sydney, NSW 2000. In mid-December 2011, the original Yankuang Australia exchanged 1 GMV share for each GCL share, plus Gloucester Coal for AUD3.2 per share, involving 21 capitals. Billion Australian dollar has been approved by the authorities for merger. The company was listed on the Australian Securities Exchange on June 28, 2012 and has become the 101st listed company. …show more content…
It is currently the largest franchise coal producer in Australia. Its products include thermal coal, hard coking coal, semi-hard coking coal, semi-soft coking coal and jet coal. Yancoal represents its major shareholders Yanzhou Coal Co., Ltd. (Luzhou) and Ashton, Xinnan, Oxen and Donaldson underground mines respectively manage the Cameby Downs and Premier coal mines in Queensland and Western Australia. Yancoal on behalf of Watagan Mining Company Pty Ltd (Wa Tagen), owns approximately 50% of the shares in the Middlemount joint venture. In 2016, Yancoal sold approximately 1,600,000 tons of saleable (equity-based) thermal energy and metallurgical coal to the international market. As of September 1, 2017, Yancoal has issued 43,959,388,122 shares. The two major shareholders Yancoa held 65.46% of the shares, while Cinda International held 16.7%. Yancoal currently has approximately 5,500