Yancoal Australia Limited (HK:3668, ASX:YAL) reported Q3 2025 run-of-mine (ROM) coal production of 15.8 million tonnes on a 100% basis, with saleable coal output stable at 12.3 million tonnes. The attributable saleable volume reached 9.3 million tonnes, while attributable coal sales stood at 10.7 million tonnes.
The company’s average realised coal price was A$140 per tonne, comprising steady thermal coal prices and a marginally lower metallurgical coal price. Cash on hand at 30 September 2025 totaled A$1.8 billion. Operationally, production remained ahead of prior-year levels, despite weather-related challenges.
Yancoal retained full-year guidance of 35–39 million tonnes in attributable saleable coal production, with preliminary indications suggesting output may end in the upper half of that range. Cash operating costs are anticipated to remain around the mid-point of the guided A$89–97 per tonne, while attributable capital expenditure is reaffirmed at A$750–900 million.
During Q3 2025, the company completed planned longwall moves at Moolarben and Ashton. Wet weather constraints briefly affected open-cut mining schedules at several operations, although overall saleable volumes remained on track. Yancoal indicated that Hunter Valley Operations achieved a 14% quarter-on-quarter increase in attributable saleable coal production. Yarrabee maintained steady performance through improved fleet operating hours, while Middlemount recalibrated its mine plan in response to rainfall.
In early October, the company acquired an additional 3.75% stake in the Moolarben Joint Venture for a total consideration of A$110.5 million, making Yancoal’s economic interest in Moolarben 98.75%. The transaction takes effect from 1 January 2025 and augments attributable production and revenue from this key asset, although it does not affect current guidance figures.
Market-wise, international coal indices saw marginal price improvements during the quarter, albeit amidst continued supply–demand imbalances. Thermal coal indices, including the API5 and GCNewc benchmarks, edged higher by 1% and 8% respectively in US dollar terms, while metallurgical coal indices rose modestly. Yancoal’s realised prices typically lag index movements due to contract timing, product specifications, and shipment schedules.
The newly appointed Chief Executive Officer highlighted ongoing operational discipline, noting that volumes are tracking favorably compared with last year and that cost control remains a management priority. The company continues to monitor market conditions while maintaining a cautious outlook on near-term demand.