Gelonghui, April 18 | Yancoal Australia (03668.HK) disclosed its quarterly report ending March 31, 2024. In the first quarter of 2024, the average coal sales price was 180 Australian dollars/ton. Cash holdings increased by $260 million. The cash balance of 31 March 2024 was $1.66 billion. On a 100% basis, raw coal production is 14 million tons. On a 100% basis, commercial coal production was 11.3 million tons. The production of equity commercial coal was 8.8 million tons. Equity coal sales volume was 8.3 million tons.
Yancoal Australia has always put employee safety first. It can record a total work injury frequency of 5.9, which is significantly lower than the industry average, and we are proud of this. However, an increase in the total frequency of work injuries can be recorded in recent months, reminding us that employee safety is always a top priority. During the reporting period, commercial coal production fell 12% from a high in the fourth quarter of 2023. This situation is to be expected given favorable operating conditions in the fourth quarter of 2023 and natural changes in mine plans for each quarter. Commercial coal production increased 47% from the first quarter of 2023, reflecting the strong recovery achieved over the past 12 months. Compared with the fourth quarter of 2023, the overall sales price of coal decreased by 8%. Among them, the sales price of thermal coal decreased by 12% and the sales price of metallurgical coal increased by 14%. The sales price of thermal coal is in line with the trend of the coal index, while the sales price of metallurgical coal is higher than the index. This is because the price of cinder supplied during the period was higher.