YANCOAL AUS (03668): Hunter Valley coal mine extension project approved, with mining expected to continue until 2045.

YANCOAL AUS (03668) announced that Yancoal Australia welcomes the decision issued today by the New South Wales Independent Planning Commission approving the Hunter Valley coal mine extension project, which will extend mining activities at the Hunter Valley coal mine complex until the end of 2045. This is a major development for the region's economy and for approximately 1,570 coal mine employees and their families. Hunter Valley thanks its dedicated employees, local suppliers, and the broader Hunter Valley community for their support throughout the approval process. This state-level approval was obtained after a six-year regulatory approval process. During this period, Hunter Valley has communicated with regulators and stakeholders in a transparent and constructive manner, and has adjusted the project design and operational framework accordingly. These adjustments ensure the project complies with the legal and regulatory requirements, environmental standards, and net-zero emissions policies of the New South Wales Government and the Australian Federal Government. Although this state-level approval brings Hunter Valley one step closer to obtaining the certainty needed for long-term stable operation of the coal mine, Hunter Valley still needs to obtain environmental approval from the Australian Federal Government by December 31, 2026. The joint venture operator will continue to communicate with the National Environmental Protection Agency to obtain this federal government approval. Mr. Sharif Burra, Chief Executive Officer of Yancoal Australia, said: "Among the submissions made during the public hearing held by the Independent Planning Commission, the vast majority expressed support for the Hunter Valley extension project. Local government and state government representatives also expressed support. We are optimistic about obtaining the final required approvals, thereby enabling Hunter Valley to continue operating for the next 19 years, bringing long-term benefits to our employees, local business partners, regional communities, shareholders, customers, and the New South Wales economy."