New Hope’s mining operations produced a total of 2.53 million tonnes of clean coal during 1H FY2016. This was 11.9% lower than 1H FY2015, with production adversely affected by wet weather at its Jeebropilly and Acland sites in Queensland and changing geological conditions at Acland.

Total sales for 1H FY2016 were 2.69Mt, a 12.3% decrease on the 1H FY2015.

The Acland operation produced 2.21Mt of product coal during 1H FY2016, a decrease of 12.1% from the previous reporting period. Production was impacted by wet weather, delays in the acquisition of new mining fleet and recruitment of associated operators.

New Hope managing director Shane Stephan said: “This is a strong operating result at a time of continuing challenges for Australian coal producers. We have successfully managed our margins whilst simultaneously agreeing to acquire a significant mining asset (Bengalla), underlining the operational and financial strength of the group.

“Our focus for the future remains on safe production and progressing state and federal government processes to further the approval of the next stage of the Acland mine.

“Market conditions for Australian coal producers are challenging at present; however, New Hope has efficient operations and is in a robust financial position, so we are well placed to see out the current downturn and take advantage of these conditions to grow the business for the future.”