CHINESE-OWNED Yancoal is reviewing expansion plans at all its mines, as lower coal prices and falling demand put pressure on the company to cut costs.
Chief executive Murray Bailey said the company's focus on cost reduction was a response to the downturn in coal prices.
Yancoal, which formed through Yanzhou Coal's recent takeover of Gloucester Coal, is reviewing the expansion plans of all seven mines in its portfolio in Queensland and New South Wales.
"We are looking at all options to reduce costs, particularly discretionary costs and consulting costs with contractors across the organisation," Mr Bailey told analysts on Monday.
"We do not, at this stage, plan to wind down production.
"We are reviewing the expansion plans across all of our mines and ranking them to ensure we have the appropriate capital expenditure discipline, going forward."
The Daily Telegraph
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