For the six months to January 2005, Australian operations contributed 53% of group profit, attributable to higher coal prices, currency hedging and operation efficiencies that more than offset the impact of the stronger Australian dollar.
Australian operations – New Acland, Jeebropilly and New Oakleigh – produced 1.8 million tonnes for the half-year, with 72% of production coming from New Acland. The mine plans to double capacity to 4 million tones per annum by 2007.
In Indonesia, New Hopes owns 41% of PT Adaro Indonesia, which produced 12.1Mt for the half-year.
