Are ASX Coal Stocks coming in focus because of global energy constraints?
Written by
Varun Ratra
Australian coal companies reported stable production, strong cash flows, improved prices and ongoing expansion and development activities.
Yancoal Australia Limited (ASX: YAL)
Yancoal Australia Limited In February 2026, released its 2025 Financial Results and inaugural AASB S2 climate disclosure report. The company identified climate related risks and opportunities and plans to develop a Climate Transition Plan. Its Sustainability Digital Data Platform was launched in 3Q 2025 whereas the P4 Report was published in April 2026.
For 2025, Yancoal generated revenue of $5.95 billion and operating EBITDA of $1.44 billion. Profit after tax was $440 million with earnings per share of $0.33. The company finished December 2025 with a strong cash balance of $2.1 billion.
It declared an A$0.1220 fully franked final dividend per share in April 2026. Total dividends per share for 2025 was A$0.1840 per share.
The company entered into agreement to buy 80% of the Kestrel Coal Mine for US$1.85 billion in April 2026. It aims to complete this deal by late September Quarter 2026, subject to certain conditions. For 2026, attributable saleable production is expected at 36.5-40.5 million tonnes with capital expenditure of $750-$900 million.
Whitehaven Coal Limited (ASX: WHC)
on 28 April 2026, released its March 2026 quarterly report. Managed ROM production was 9.5Mt and equity sales of produced coal reached 6.8Mt. Coal prices strengthened during the quarter with metallurgical coal and thermal coal benchmarks rising from the previous quarter.
Queensland operations produced 4.1Mt of ROM coal as wet weather affected mining activity. Despite this, equity sales increased to 3.2Mt, supported by stock built ahead of the wet season. The average achieved coal price was A$242 per tonne.
New South Wales operations delivered 5.4Mt of ROM production and 3.6Mt of equity sales. The average achieved price was A$175 per tonne.
The net debt was A$0.6b at 31 March 2026. In April 2026, refinancing was completed and is expected to save A$50-55M annually. FY26 guidance remains unchanged with production, sales and costs tracking within target ranges. Market outlook remains supported by long term demand for high quality thermal coal and limited new supply.
New Hope Corporation Limited (ASX: NHC)
released its Quarterly Activities Report for the dated ended 30 April 2026 on 18 May 2026. The group ROM coal production reached 4.3Mt increased 5.0% from the previous quarter whereas coal sales increased 10.4% to 3.2Mt. The average realised coal price improved slightly to $140.7/t. Underlying EBITDA rose 21.7% to $130.1 million and available cash stood at $571.6 million.
At Bengalla Mine, ROM coal production increased 16.3% to 2.6Mt and saleable coal production rose 13.5% to 2.1Mt. The coal sales reached 2.2Mt whereas FOB cash cost fell 12.4% to $74.0 per sales tonne.
New Acland Mine produced 1.6Mt of ROM coal and sold 1.0Mt during the quarter. Development work including public road realignment, remained on schedule with expected capital expenditure of $65-75 million during 2026.
On 14 April 2026, Malabar announced first coal production from its longwall operation. The company also commissioned its 10km overland conveyor and water treatment plant while coal sold into Japan achieved an average price of US$128/t.
(Source: Company Report)
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