Westgold Resources and Yancoal to join ASX 200 and 300 indexes amid market shifts
Westgold Resources (ASX:WGX) and Yancoal (ASX:YAL) are set to be included in the ASX 200 and 300 indexes, as three formerly high-profile stocks were dropped.
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Yancoal Australia Limited
Yancoal is a leading low-cost Australian coal producer in the global seaborne market, producing a mix of premium thermal, semi-soft coking and PCI coals for export.
Since 2004, Yancoal has built its business through strategic acquisitions; now owning, operating or participating in 11 coal mines across NSW, Queensland and Western Australia. In 2020, Yancoal produced 38.3 million tonnes of saleable coal for export into international markets. Over the past two years, Yancoal has paid dividends to shareholders totalling almost $1 billion.
Yancoal is a public company, listed on both the Australian Securities Exchange (ASX: YAL) and the Hong Kong Stock Exchange (HKSE: 3668), and is majority owned by Yanzhou Coal Mining Company Limited (Yanzhou).
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Yancoal profit plummets amid coal price slump
The slump in global coal prices has again caught up with Yancoal Australia (ASX:YAL), the big Chinese-controlled thermal and soft coking coal miner and exporter.
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Yancoal Australia faces 25% revenue drop
Despite solid production and sales performance for the six months ending in June, Yancoal Australia (ASX:YAL) is facing a 25% revenue decline due to weaker global prices.
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Yancoal survives coal price drop
The Chinese-controlled Yancoal Australia (ASX:YAL) has weathered a near-halving in the price of its main product, thermal coal, in the three months to March and still augmented its substantial cash pile.
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Coal slump hits Whitehaven and Yancoal hard
The impact of the slump in global thermal coal prices has become evident in the latest quarterly reports from major coal miners and exporters, Whitehaven and Yancoal Australia.
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Market All Fired Up over Coal Stocks
More record highs for local coal miners Whitehaven and New Hope as punters sought to buy to grab extra profits for coal exports not even earned yet after the OPEC+ oil output cut.
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Coal Space Rolling on, Rolling in it
Whitehaven Coal shares touched record levels this week after revealing more rewards from the coal price boom for shareholders to enjoy; others in the space are doing equally well.
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Yancoal Parent Bid Dies of Natural Causes
Yancoal Australia’s Chinese state-owned parent Yankuang Energy has quietly dropped its now vastly underpriced takeover offer for the minorities in the local coal miner.
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Positives Aplenty in Yancoal Result
Yancoal has confirmed earlier guidance of a massive turnaround in revenue and earnings for the six months to June as the company rode the surge in thermal coal prices to record highs.
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Glencore Finally Tips Out Yancoal Stake
Commodities giant Glencore has finally managed to exit its holding in the Chinese-controlled Yancoal Australia, telling Reuters it had sold the stake into the Australian market late Wednesday.
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