Focused on Australian Futures ANNUAL REPORT 2020
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FOUNDED ON SHARED VALUES Focused on Australian futures ANNUAL REPORT 2020 YANCOAL AUSTRALIA LTD (INCORPORATED IN VICTORIA, AUSTRALIA WITH LIMITED LIABILITY) ASX STOCK CODE: YAL HKEX STOCK CODE: 3668 ACN 111 859 119 A WE VALUE A future we can plan for Mining is what we do. But mining Mining provides people, communities mining industry. They grew up around well beyond coal. Yancoal’s story is we support; the environment we is about much more than just the and societies with a future. When done mining. They have ‘lived’ mining, with about the positive impact we have on regenerate; the communities coal we produce or how it is used. responsibly and ethically, mining can all its challenges. Mining has provided people’s lives and livelihoods: trainees we nurture; the workplace culture Mining creates rewarding careers. have beneficial impacts for generations. the family with opportunities, careers getting a foot in the door; the people we create; the mateship we foster; ~4,300 Mining allows regional towns to thrive. Mining spans 165 years of Josie’s family. and a future. You could say that mining who serve us our morning coffee on and the families that rely on us for FULL TIME EQUIVALENT ROLES Mining underpins government budgets. Three generations have worked in the is in their blood. Yancoal’s story goes the way to work; the local businesses a future. We value these stories. ACROSS ALL OPERATIONS (OWNED/MANAGED/JVS) 1 I VALUE WE VALUE My first set of wheels Yancoal is committed to developing resulted from an internationally Foundation – an organisation that Mudgee Bakery & Cafe is an institution serving hundredsof daily regulars, talent in the mining sector and invests focused community initiative in improves the education, life skills that has been serving the town and the who drop by on their way to and from in trainee programmes that provide 2020 jointly sponsored by Yancoal and employment prospects of surrounding region for over 30 years. work at the local mines. The bakery entry-level opportunities across our sites. and POSCO (a Yancoal customer young Indigenous men. Jaxon is It is a thriving business employing up also has a connection with Yancoal, ~38,200 Jaxon commenced as a trainee mining and joint venture partner), which now qualified to operate a haul truck to 45 people, keeping local workers with family members employed at the JOBS DIRECTLY AND INDIRECTLY operator at Yancoal in September 2020. was made possible by our ongoing and has his ‘first set of wheels’. fed and caffeinated. It has a special Moolarben mine located around 40 SUPPORTED BY YANCOAL His traineeship was unique: having partnership with the Clontarf connection with the mining sector, kilometres outside of the town. 2 3 WE VALUE The possibilities of land regeneration Lake Kepwari at Collie in Western Australia mining pit into a landmark attraction that is safe, stable and sustainable. As a temporary steward of the land during long after mining has ended. was an open-cut mine for almost 30 for tourists and visitors, which will One of the objectives of the Lake Kepwari the mining process – a critical part of Lake Kepwari is a prime example years and has now been transformed assist in diversifying Collie’s economy rehabilitation was to create a functioning, responsible mining – Yancoal is committed of how this can be achieved. 3,900 hectares into a popular attraction for water sports. and providing jobs. Land rehabilitation self-sustaining ecosystem that would to rehabilitating mined land and creating OF PREVIOUSLY DISTURBED Starting in the 1980s, progressive is about returning previously mined integrate into the surrounding bushland an asset that will benefit future generations LAND HAVE BEEN REHABILITATED rehabilitation transformed the former land to an environmental condition and landscape. AT YANCOAL MANAGED MINES 4 5 WE VALUE I VALUE A steady stream of work A company that is focused on workers safety A1 Earthworx Mining & Civil has partnered Chris, A1 Earthworx’s General Manager, Yancoal’s contribution to businesses Some years test the resilience of a Highlights included: a 23% decrease with Yancoal at the Moolarben mine is proud that the business has been and the local community has been Company and its workforce and 2020 in all recorded incidents across since its construction phase. Guidance involved throughout the full-mining wide-reaching and has added to was one of these. The real character of Yancoal-operated mines; the lowest and support from Yancoal has helped cycle at Moolarben, from exploration the region’s prosperity. a company is how it performs through annual TRIFR rate since 2015; 28% the business grow, and also assisted to rehabilitation, and he sees a bright difficult periods, especially whether it and the lowest number of annual DECREASE IN LOST TIME in improving its systems and procedures. future for sustainable mining practices. can maintain a focus on the wellbeing of injuries recorded at Ashton, Austar, INJURIES DURING 2020 its staff. On this front, Yancoal achieved Moolarben Underground, Cameby some outstanding results in 2020. Downs and Premier mines. 6 7 WE VALUE I VALUE A team of solid mates I can trust Premium steelmaking coal supplied by Yancoal Yancoal has a diverse range of Korea from four of our operations. Yancoal makes every effort to ensure and encouragement, and where training YANCOAL People customers and in 2020 our coal was The strength of this relationship is our workforce is inclusive, harmonious and development foster positive future VALUES million Safety tonnes sold to 19 different countries. POSCO reflected in our joint sponsorship of and motivated. We have a reputation as careers. This builds an environment 39.3 is one of the world’s largest steelmakers. the GEM Fund, which invests globally a great place to work and a strong desire in which our workers often forge strong Innovation OF SALEABLE COAL Yancoal’s relationship with POSCO was in community enhancement programs: to live up to these expectations. We want and lasting connections, with many PRODUCTION IN 2020 forged over a decade ago and we are an Indigenous mining traineeship a workplace culture where employees of our employees viewing their colleagues Excellence (EQUITY BASIS) now POSCO’s second largest supplier in the Hunter Valley in 2020; and an look to each other for support, advice as friends and not just workmates. Integrity of coal, with product exported to South environment project in Korea in 2021. 8 9 WE VALUE A solid foundation for us to grow Simone and Simon have a growing family at Yancoal’s MTW operation in 2007 Simone also has a successful career member of the State Emergency Service With a two-year old daughter and another in Singleton, a town located in the heart of and, having worked in multiple roles and followed her passion, now owning (SES). Having joined the SES in 1999 on the way, building a solid foundation the Hunter Valley coal region. Simon grew across the site, is currently an acting a dance school in Singleton with over and having assisted those impacted by for the family’s future is their priority. up in Singleton and followed his father by Production Superintendent in the mining 200 students. They are strongly storms and floods, he is now the With all the support and opportunities pursuing a successful career in mining. team. He was Trainee of the Year in 2008 connected to the Singleton community. Commander of the Central Hunter cluster. that Singleton and Yancoal have to offer, He started as a trainee operator and a Model Employee finalist in 2020. Simon is a long-standing and active But family is their primary focus. Simone and Simon are off to a great start. 10 11 WE VALUE How Yancoal is an example of cooperation between China and Australia Some years test the resilience of focus on continuing to achieve In 2020, Yancoal-associated operations remained true to its objective to be a investors access to an exclusively Our strategy continues to be one a Company and its workforce, operational efficiencies produced 74 million ROM tonnes (on responsible and valued corporate member Australian portfolio of owned or of future expansion. A future that and I would not be the only Chairman and to meet strategic objectives. a 100% basis) and we generated of society. Yancoal’s ongoing support operated mines in New South Wales could include Yancoal diversifying of a coal mining company to state $3.5 billion of revenue. of local communities and organisations, and Queensland. We dual-listed on the beyond its existing coal-focused Despite our ability to achieve notable that 2020 has been a truly testing year. which provide a range of services and Stock Exchange of Hong Kong (HKEx) asset portfolio into other minerals, improvements in those areas of the Our operations directly support There were three issues in particular facilities, was an excellent outcome for all in 2018, becoming the first Australian and energy or renewable energy business that we control, such as lowering around 4,300 full-time equivalent roles that presented challenges during 2020: our stakeholders. mining company to achieve a primary projects, should appropriate operating costs per unit and growing our in Australia, with well over 90% the COVID-19 pandemic; cyclical coal listing on both exchanges. At present opportunities arise. sales volumes, Yancoal was inevitably of these workers living in regional Some notable examples of support market lows; and disruptions to trade we have over 3,400 shareholders, impacted by weaker coal prices throughout areas. On a direct and value-add included funding for the GP COVID-19 Our business remains strong. flows in the Asian basin coal market. with our major shareholder being 2020.