Yancoal mulls all options to reduce costs
Source: Xinhua |
August 21, 2012, Tuesday
|
Print Edition
Print Edition
CHINA-BACKED Yancoal Australia said yesterday that the company was considering all options to reduce costs.
In its 2012 first half-year results presentation released yesterday, Yancoal said it would review its expansion plans across all mines to ensure that the appropriate capital expenditure discipline is maintained.
Yancoal Chief Executive Officer Murray Bailey said the company's focus on cost reduction was a response to lower coal prices.
"We are looking at all options to reduce costs, particularly discretionary costs and consulting costs with contractors across the organization," Bailey told analysts yesterday.
"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 Australian-based coal producer and developer operates open cut and underground coal mines in New South Wales, Queensland and Western Australia.
In its 2012 first half-year results presentation released yesterday, Yancoal said it would review its expansion plans across all mines to ensure that the appropriate capital expenditure discipline is maintained.
Yancoal Chief Executive Officer Murray Bailey said the company's focus on cost reduction was a response to lower coal prices.
"We are looking at all options to reduce costs, particularly discretionary costs and consulting costs with contractors across the organization," Bailey told analysts yesterday.
"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 Australian-based coal producer and developer operates open cut and underground coal mines in New South Wales, Queensland and Western Australia.
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