Yancoal Australia’s first board meeting in 2012 was held on June 15th in Sydney, Australia. Hosted by Mr. Li Weimin, Chairman and Party Secretary of Yanzhou Coal Mining Company, the meeting was of great significance before the merger and listing of Yancoal Australia and Gloucester Coal. Other attendance include Mr. Lai Cunliang, Vice Manager of Yanzhou Coal Mining Company and Executive Director of Yancoal Australia, board members of Yancoal Australia and other relevant personnel of Yanzhou Coal Mining Company and Gloucester Coal.
Li Weimin firstly praised Yancoal Australia’s work performance in the first half year. He noted that the company managed to overcome the negative factors of the world’s coal market and sustained stable development. Mr. Li Weimin asked the company to fully recognize the severe situations of the world’s coal market, give full play to the coordinated advantages of the domestic and international markets, further optimize the internal resource deployment, tighten the cost control, enhance the operational outcome and guarantee the company’s high-efficient operation.
Li Weimin also gave regards to the management involved in the initial merger transaction of Yancoal Australia and Gloucester Coal. And he required that on the precondition of normal production, efforts must be made to fulfill the decided merger plan, speed up the two companies’ coordinated advantages in terms of transportation, sales and marketing and endeavor to set a good image in world’s the capital market.
During the meeting , Li Weimin also held talks with James MeKenzie,Chairman of Gloucester Coal, Murray Bailey, Director and General ,Manager of Yancoal Australia and some relevant investment institutions.