Chinese resource company Yancoal reports $53m loss

CHINA-owned coal firm Yancoal has reported a loss of $53.1 million for the three months from July to September.

Its announcement follows an Australian Stock Exchange trading halt.

Yancoal told the ASX on Thursday it would deliver a five-year plan to its board in November before releasing its full-year results in February next year.

The arrival of Yancoal - which was the largest investment by a Chinese state-owned coal company when it was listed on the ASX in June - was greeted with much fanfare from the industry.

Queensland Resources Council chief Michael Roche trumpeted the confidence Yancoal had in Queensland coal industry to commit to such an investment.

Yancoal owns two mines - Yarrabee Mine near Blackwater west of Rockhampton and Cameby Downs Mine near Chinchilla - and holds a 50% stake in a Middlemount mine.



State-wide turmoil, Council extends waste management review

State-wide turmoil, Council extends waste management review

Rubbish review delayed amid state-wide turmoil from Chinese ban.

Fewer visitors at Leslie Dam a shore thing

Fewer visitors at Leslie Dam a shore thing

The water's edge at Leslie Dam is 70m from all three boat ramps

Southern Downs Heritage Festival brings in the tourists

Southern Downs Heritage Festival brings in the tourists

In three years the heritage festival has started to create a buzz

Local Partners