Yancoal provides annual Coal resources and reserves update for the year ended 31st December 2018

YAL

Yancoal Australia Limited (ASX: YAL) provided an update on its Coal Resources and Reserves under JORC 2012 edition (Australian Code for reporting of Mineral Resources and Ore Reserves) on 29th March 2019, for the year ended 31st December 2018.

The total Coal resources reported by the company was at 8878 million tonnes for the period ended 31st December 2018, in which 6442 million tonnes was attributable to the Yancoal’s share. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

Coal Resources at 100% ownership:

Yancoal reported its Auster, underground and open cut project, metallurgical coal resources at 220 million tonnes. Out of 220 million tonnes, 70 million tonnes were inferred coal resources (Same as last year), 40 million tonnes were indicated resources (which marked a decline of 50% as compared to 80 million tonnes of coal resources in 2017). The Measured coal resources were at 110 million tonnes, which marked an increase as compared to just 70 million tonnes in 2017.

The company’s reported its semi-soft coking and thermal coal resources for Ashton open cut and underground mine at 260 million tonnes, out of which 110 million tonnes were inferred resources, 70 million tonnes were indicated resources, which marked a decline from 75 million tonnes in 2017. The measured coal resources for the prospect were at 80 million tonnes, which remained unchanged as compared to the previous year coal resource.

Pulverised and thermal coal for the Yarrabee prospect is noted at 195 million tonnes, out of which 20 million tonnes remained inferred, 80 million tonnes were indicated, and 95 million tonnes were measured coal resources.

Metallurgical and thermal coal of the Gloucester open cut prospect accounted for 313 million tonnes, out of which 110 million tonnes were inferred, 195 million tonnes were indicated, and 8 million tonnes were measured, which marked a slight decline from 11 million tonnes in 2017.

Out of all 100% ownership, Donaldson open cut and underground metallurgical and thermal coal were the highest and accounted for 690 million tonnes. The inferred coal resources for the prospect were at 100 million tonnes, indicated coal resources for the prospect were at 400 million tonnes, and measured coal resources were at 190 million tonnes.

Monash underground accounted for 97 million tonnes of coal resources, in which there were no measured coal resources.

Coal Resources at 50% or greater ownership:

Hunter-valley open cut and underground operations recorded the highest coal reserves among the operations where the company does not have 100% ownership. The semi-soft coking, and thermal coal type form the operations were at 3788 million tonnes. Out of 3788 million tonnes, 1654 million tonnes remained inferred, 1430 million tonnes were indicated, and 704 million tonnes were measured, which decreased from 730 million tonnes in 2017.

Warkworth and Moolarben open cut and underground operations recorded the coal reserves at 1470 million tonnes and 1150 million tonnes respectively.

All coal resources include the coal reserves.

Marketable Coal and Reserves from 100% ownership:

Metallurgical and Thermal type: 

The total Marketable coal from the Ashton open cut was at 7.8 million tonnes (probable reserve category). The underground coal reserves were at 18 million tonnes, out of which 5.7 million tonnes belonged to probable class and 12 million tonnes belong to the proved category.

Gloucester open cut marketable coal reserves were at 26 million tonnes, out of which none belonged to the proven class reserves.

Donaldson underground marketable coal reserves were at 62 million tonnes, out of which none belonged to the proven class reserves.

Pulverised and Thermal type:

Yarrabee open cut total marketable coal was at 40 million tonnes, out of which 26 million tonnes were proved and 14 million tonnes were probable.

Marketable Coal and Reserves from 50% or greater ownership:

Semi-soft coking and thermal type:

Hunter-valley open cut operations remained among the highest producer of marketable semi-soft coking and thermal coal. The total marketable coal from 51% owned prospect was at 554 million tonnes, out of which 325 million tonnes were probable and 229 million tonnes were proven coal reserves.

The total marketable coal reserves were at 1265 million tonnes out of which 891 million tonnes were attributed to the Yancoal share.

Yancoal reported a total coal reserve of 1763 million tonnes out of which 1240 million tonnes were attributed to Yancoal shares.

The stock of the company closed the day’s trading at A$3.430 (as on 29th March 2019), up by 0.587% as compared to its previous close.


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