New Acland has now ramped up to full production capacity of 4.2 million tonnes per annum, producing 1.07Mt during the quarter. The New Oakleigh mine kicked in with 150,000t for the quarter.

Total saleable coal production for the quarter was 1.22Mt, but sales were down by 2% which New Hope blamed on shipping timing.

Unlike previous quarters, New Hope was able to take advantage of rail capacity availability and an “essentially demurrage free” port at Queensland Bulk Handling.

New Hope said given the favourable market conditions it had recommenced overburden removal at the Jeebropilly mine and expected to produce coal in the next quarter.

It said output at the mine would increase with the closure of the New Oakleigh mine in the first half of 2009 as reserves were depleted.

New Hope closed up 0.4% at $4.65 after rising 4% yesterday.