YAL 3.55% $6.42 yancoal australia limited

Ann: 2022 ESG Report, page-3

  1. 10,341 Posts.
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    A fair swathe of the world needs our thermal coal - ask the Japanese Ambassador, or perhaps the (South) Korean one or Taiwanese 'Economic and Cultural Office' - but here we have pen-pushing bureaucrats in NSW arguing against a part YAL-owned mine (Hunter Valley Operations) from continuing until 2050:

    (if it doesn't, Oz will be poorer. Many Asians must think we are a richly endowed nation, but essentially dull, stupid and as regards the climate, alarmist):

    (note how the NEC's flagship Sydney paper laps all this up. 'The Age' in Melbourne doesn't receive an admission ticket to my household):

    Hunter coal mine expansion to blow hole in NSW’s net zero plan

    Ben Cubby
    By Ben Cubby
    May 18, 2023 — 1.54pm








    "A coal mine expansion in the Hunter Valley is set to blast a large hole in the state’s net zero climate plan, a government agency has warned.
    The amount of methane leaking from the Hunter Valley Operations mine near Singleton would force other sectors of the economy to make even deeper emissions cuts to compensate, the net zero emissions modelling team in the NSW planning department said in a submission to the miner’s proposal.
    The Hunter Valley mine is seeking to lock in exports out to 2050.
    The Hunter Valley mine is seeking to lock in exports out to 2050.Credit: Bloomberg
    The operators of the open cut mine complex, a joint venture between Yancoal and Glencore, are seeking to extend its life to 2050 by extracting coal from deeper seams which are rich in methane – a potent greenhouse gas.
    It means about 4.6 million tonnes of extra greenhouse gas will leak as “fugitive emissions” over the extended life of the mine, in addition to the emissions already forecast by the government..."
    Last edited by Hopeful9: 18/05/23
 
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