Yancoal Australia Ltd held its 2025 Annual General Meeting on 28 May 2025 in Sydney, where top executives, including Co‐Vice Chairman Gregory Fletcher and Acting CEO Ning Yue, provided a comprehensive review of the company’s performance in 2024. The meeting featured extensive discussions on safety, sustainability, financial results, coal market conditions, and key resolutions put to shareholder vote. The presentation highlighted 2024 as a strong year for operations. Production figures reached 62.7 million tonnes of ROM coal with 36.9 million tonnes of saleable production, marking a 10% increase over the previous year. Financially, the company recorded A$6.86 billion in revenue with an operating EBITDA of A$2.58 billion, reflecting a 37% operating margin. The realized coal price was A$176 per tonne, while operating costs stood at A$93 per tonne, leading to an implied cash operating margin of A$66 per tonne. The robust performance resulted in a profit after tax of A$1.22 billion, earnings of A$0.92 per share, and a final dividend of A$687 million (or 52 cents per share), yielding in excess of 10% on a share price around A$5. The firm stressed its commitment to safety and sustainability. While the 12-month rolling Total Recordable Injury Frequency Rate increased slightly to 6.73, it remained below industry averages and showed improvement in early 2025. Sustainability efforts were bolstered with the publication of an integrated 2024 Sustainability Report, along with significant investments in mining fleet upgrades and equipment enhancements aimed at boosting efficiency and reducing methane emissions. These initiatives are part of ongoing preparations to meet increased disclosure requirements under evolving standards. Shareholder matters featured prominently, with a series of resolutions summarized for the election of directors, adoption of the remuneration report, auditor reappointment, issuance of incentive rights, and mandates concerning share issues and repurchases. Proxy voting results saw overwhelming support for most items, reinforcing shareholder confidence in the company’s strategic direction. From a bullish perspective, the company’s strong production growth, low operating costs, robust financial metrics, and significant cash reserves—with no interest-bearing debt—signal a solid operational footing and attractive dividend yield in a challenging coal market. Conversely, bearish sentiment may arise from the noted decline in realized coal prices compared to the previous year, along with broader market pressures such as global supply recoveries and soft demand in international coal markets. The ongoing CEO transition also introduces some uncertainty, although it is being managed by an experienced leadership team. Overall, the developments presented at this AGM underscore Yancoal Australia Ltd’s commitment to operational excellence, shareholder returns, and strategic resilience amid fluctuating market conditions.