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Yancoal's Q4, FY'18 attributable coal output surges YOY

Yancoal Australia Ltd.'s attributable salable coal production in the fourth quarter of 2018 climbed 18% year over year to 8.4 million tonnes.

The company said Jan. 18 that all three of its tier-one thermal coal assets — Moolarben, Mount Thorley and the Hunter Valley Operations joint venture all in New South Wales, Australia — achieved high extraction rates throughout the reporting period.

Production at Mount Thorley Warkworth and Hunter Valley increased 30% and 12%, respectively, to 3.5 million tonnes and 3.8 million tonnes, partially offset by a 3% decline at Moolarben to 3.2 million tonnes.

Total attributable coal sales in the quarter improved 4% on a yearly basis to 10.1 million tonnes, including a 17% increase in thermal coal sales to 7.4 million tonnes, partially offset by a 19% decline in metallurgical coal sales to 2.7 million tonnes.

For the full year, Yancoal's attributable coal production grew 78% year over year to 32.9 million tonnes, while attributable coal sales surged 68% to 37.1 million tonnes.

The company, which is majority-owned by Yanzhou Coal Mining Co. Ltd., anticipates attributable salable coal production of approximately 35 million tonnes in 2019.