4 questions lodged at 2026 Yancoal (YAL) hybrid AGM
May 28, 2026
Below is the text of the 4 written questions submitted at the Yancoal (YAL) 11am hybrid AGM in Sydney held via the Computershare platform (questions not voting) on May 28, 2026. See notice of meeting detailing 8 resolutions. Biggest 2025 protest 8.6% against "general mandate to issue shares", whatever that means. Market cap was $9.17b on AGM day. The proxies were disclosed early with the formal addresses. See 6 questions asked at 2024 AGM and 7 questions asked at 2023 AGM.
Q1. Thank you for disclosing the proxies early to the ASX along with the formal addresses. There was a 9.8% vote against the re-election of director Gang Ru. Which of the proxy advisers produced a report ahead of today's AGM and did any of them recommend a vote against Mr Ru. If so, what was the nature of their concern and what is the company's response?
Q2. The NSW Government increased coal royalties by 2.6% to 10.8% on July 1, 2024. How much did we pay the NSW Government in calendar 2025 and how much lower than Queensland are the NSW coal royalties? Does the chair agree it would be nice if we had the same royalty regime as WA Gold miners, who only pay a flat 2.5% royalty but pay no royalty on the first $16m worth of production at each WA gold mine?
Q3. The largest against vote at the 2025 AGM was 8.6% on the general mandate to issue shares. Based on the proxy votes, this year that level of opposition has risen to 18.1%. I don't understand this issue. Could the chair explain why some proxy advisers and their institutional clients vote against this proposal and what is our response to those concerns?
Q4. What proportion of the coal we produce is exported to China, what proportion is used in Australia and where else do we export out coal?
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