Yancoal Australia updates board, committee charters for 2025

Yancoal Australia Ltd. announced the approval of its updated board charter and the charters for its audit and risk management, nomination and remuneration, and health, safety, environment and community committees, effective December 19, 2025. These updates aim to refine the company's corporate governance framework, aligning it with international best practices and applicable laws. The board charter details the board's constitutional powers, responsibilities, and delegation authority, emphasizing leadership, cultural alignment, and oversight of management and financial performance.

Key changes include specific guidelines for director independence, requiring a regular and at least annual assessment, and enhanced duties for the company secretary in ensuring regulatory compliance and information dissemination. The audit and risk management committee's objectives have been clarified to include proactive oversight of financial and sustainability reporting, assessment of external auditor independence, and management of financial and non-financial risks, including climate-related aspects.

The nomination and remuneration committee's expanded role focuses on board composition, succession planning for key executive roles, director remuneration (subject to shareholder approval), and oversight of the company's diversity and inclusion policy. The health, safety, environment and community committee's mandate now explicitly includes monitoring and assessing HSEC policies, strategies, legal compliance, and performance, along with reporting on sustainability information. All charters will be reviewed annually to ensure ongoing relevance and effectiveness.