Glencore Plc, the Swiss mining group and Yancoal Australia have secured approval to extend operations at their jointly owned Hunter Valley coal mines in New South Wales, allowing production to continue until 2045. The approval clears the way for an additional 430 million metric tons of coal to be extracted from the existing operations.

Approval ends six-year review

The New South Wales Independent Planning Commission approved the Hunter Valley Operations Continuation Project after a six-year planning and assessment process, Yancoal said. The mines currently produce about 42 million metric tons of coal annually for export to power generators and steelmakers, according to Glencore.

The approval comes with environmental conditions that restrict coal exports to jurisdictions with greenhouse gas reduction policies consistent with the Paris Agreement. Glencore and Yancoal must also maximize renewable energy use across the operations and purchase additional carbon offsets under the project conditions.

Conditions shape future exports

Glencore operates the Hunter Valley mines and owns 49% of the joint venture, while Yancoal holds the remaining 51%. The decision extends the operating life of the assets by almost two decades, giving the partners access to additional reserves without developing an entirely new mining complex.

The conditions reflect growing scrutiny of coal projects in Australia, where regulators are weighing economic benefits and energy demand against emissions concerns. For Glencore and Yancoal, the approval preserves access to a major export operation while placing tighter requirements on where coal can be sold and how the mines use energy.

Glencore posts stronger results

The Swiss commodities group, listed in London and Johannesburg, is also preparing for a secondary listing in Australia, operates across more than 35 countries and trades or produces about 60 commodities, with around 140,000 employees and contractors.

The company reported first-half 2026 revenue of $174.43 billion, up 49% from $117.39 billion a year earlier, while adjusted EBITDA rose 86% to $10.11 billion. The company, led by CEO Gary Nagle, has major interests across mining, metals, energy and commodity trading. The stronger first-half results were driven by higher commodity prices and profitability in its marketing business, giving the mining group continued exposure to global demand for raw materials and energy.

Yancoal expands coal base

Yancoal, founded in 2004, is one of Australia’s largest coal exporters, producing thermal and metallurgical coal for international markets. The company owns or operates eight producing mines across New South Wales, Queensland and Western Australia and employs more than 6,000 people across its operations.

The company said its Australian operations generated more than $20 billion in direct and indirect economic impact in 2025, underscoring the importance of coal production to regional communities. The Hunter Valley approval now gives Yancoal and Glencore a longer operating horizon for one of their largest jointly owned assets.