Glencore, the Swiss commodities group led by South African executive Gary Nagle, has secured regulatory approval to extend the life of its Hunter Valley Operations (HVO) coal mine in Australia, potentially keeping part of the operation running until 2045.

The New South Wales Independent Planning Commission has approved the HVO Continuation Project, clearing a major regulatory hurdle for the joint venture owned by Glencore and Yancoal Australia.

Glencore, Yancoal extend coal mine life

HVO is jointly owned by Yancoal, which holds a 51% stake, and Glencore, which owns the remaining 49%. The operation is independently managed on behalf of both shareholders and produces thermal and semi-soft coking coal for export markets.

The approved project is designed to recover additional coal resources within HVO’s existing mining tenements, extending the operating life of HVO North from 2026 to 2045 and HVO South from 2030 to 2042.

The approval follows a six-year regulatory assessment process during which the project’s design was amended to align with New South Wales and Australian federal legislative requirements, environmental standards and climate policies.

Federal approval remains outstanding

While the NSW approval represents a significant step for Glencore and Yancoal, the project is not yet fully cleared to proceed.

The continuation of the project remains subject to environmental approval from the Australian federal government, which is required by the end of December 2026 for mining operations to continue.

The approval comes as the Swiss commodity group continues to manage its exposure to thermal coal while maintaining coal operations that generate export revenue from Australia.

For Yancoal and Glencore, extending HVO’s operating life would allow the joint venture to recover additional resources from existing mining tenements rather than developing an entirely new mining operation.

Global commodities footprint strengthens reach

Glencore, one of the world’s largest diversified natural resource companies, operates across more than 30 countries and produces, processes, recycles, sources and markets over 60 commodities, serving major industries including automotive, steel, power generation, batteries and oil.

The project also provides a longer operating horizon for one of the partners’ established Australian coal assets, although its continuation remains dependent on the outstanding federal environmental assessment.