Yanzhou Coal backed Yancoal has listed on the Australian Stock Exchange (ASX) following the successful merging with Gloucester Coal and specific assets of the previously unlisted portfolio of Yancoal Australia. The company is one of the largest pure-play coal companies in the country.

 

The merger creats one of Australia’s largest listed mining companies, with operational mines in New south Wales and Queensland and with significant investments in two coal export terminals at Wiggins Island in Gladstone.

 

Yancoal purchased its first Australian mine in 2004. This was followed by a series of other mine purchases and significant expansion from 2006.

 

Yancoal’s major shareholder Yanzhou Coal Mining Company Limited is the only Chinese coal mining company that is listed on the Shanghai, Hong Kong and New York stock exchanges. It is also one of China’s largest international mining groups by market capitalisation, integrating coal mining, coal chemical conversions and power.