The thermal coal producer operates to its own quarterly reporting schedule and increased raw coal production 26% year-on-year to 2.58Mt in the three months to the end of the July.

Total saleable coal production for its end-of-July full year reached 5.92Mt, up 15% from the previous 12 months.

New Hope exports through its subsidiary Queensland Bulk Handling at Brisbane’s port, and throughput increased 9% to 6.14Mt in the annual results.

Total coal sold increased 18% to 5.88Mt for the year to July 31.

New Hope said this was a new record for the group and reflected improved rail performance, continued strong export demand and available port capacity at QBH.

But New Hope is on the hunt for new customers.

CS Energy has already shut down two of the four coal fired units at its Swanbank Power Station – which lowered New Hope’s domestic sales.

The third unit is scheduled to shutdown in April 2011 while the fourth will go offline a year later.

“New Hope is examining alternate customers for its surplus domestic coal; some of which may be exported,” the company said.

A new pit was established at the Jeebropilly open cut mine in the recent quarter after geological work earlier in the year increased confidence in the amount of remnant resources.

Commissioning of the new stacker at QBH was completed while the next milestones for the terminal expansion include the commissioning of the reclaim system, plus the installation of additional stacker rails and reclaimer bunker walls.

Wet ground conditions caused by an extended wet season limited exploration but New Hope still managed to complete 12,747m of drilling for the recent quarter and has reached 27,710m year to date.

About half of the 6.5 square kilometres 3D seismic survey is complete at the New Lenton project in the state.

New Hope aims to prove up to 200Mt of coal in the project area.

The company has applied for two coal exploration permits and is expecting them to be granted in the current half-year period.

Dart Energy and coal-to-liquids

New Hope is no longer a 16.7% stakeholder of Arrow Energy after taking part in Arrow’s demerged and recently listed Dart Energy.

New Hope owns about a 17% share of coal bed methane hopeful Dart, after also taking part in a shares placement last week.

The company is also advancing the planning and development of a small “proof of concept” CTL plant to be built at Jeebropilly.

The Queensland government is processing New Hope’s applications to get environmental approval along with a petroleum facility licence.

“Negotiations continue with technology holders in both USA and South Africa with the intent of establishing access to other methodologies of converting coal into synthetic crude and other value-added petroleum products,” the Queensland coal producer said.

New Hope shares are down 2c to $4.60 this morning.