HK Stock Market Move | YANCOAL AUS (03668) rises over 3% as Hunter Valley coal mine extension project approved

YANCOAL AUS (03668) rose over 3%, up 3.54% as of press time, at HK$32.74, with a turnover of HK$15.4368 million. On the news front, on September 30, YANCOAL AUS issued an announcement that Yancoal Australia welcomes the decision published 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 through the end of 2045. This is a significant development for the region's economy and for approximately 1,570 coal mine employees and their families. 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.