HomeProduct Complimentary download Yancoal receives approval for Moolarben expansion

Yancoal receives approval for Moolarben expansion

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Publish time: 3rd February, 2015      Source: www.cnchemicals.com
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Yancoal Australia, a unit of China's Yanzhou Coal Mining Co., has gained approval from the New South Wales Planning Assessment Commission to build the second phase of Moolarben coal mine project, the company said in a document on February 2.The mine is located in the western coal field of New South Wales State, which is about 270 km away from Newcastle port. It’s one of the most profitable mines of Yancoal Australia or even in the whole Australia.The phase II development is expected to expand the mining operation further east, and would develop two additional underground mines and one opencast operation. The current Moolarben mine has been approved to extract 12 million tonnes of coal from three opencast and one underground mine.The second phase of the mine is designed to serve for 24 year. Once finished, total annual production capacity of the mine will reach 16 million tonnes, said Yancoal Australia.The first phase of the mine was put into operation in May 2010, with 80% of its stake owned by Yancoal Australia.In 2014, coal output of the mine reached 8.3 million tonnes; total profit generated during the same year realized around 700 million yuan ($112 million).Yanzhou Coal Mining Co. announced in a document released in late January that its net profit in 2014 may increase 105% from a year ago.