INTERNATIONAL COAL NEWS

New Hope posts positive quarter

NEW Hope Corporation has posted a 6% jump in raw coal production for the quarter ended January 31...

Staff Reporter

Overall, the company produced 1.6 million tonnes during the quarter and sold 964,000t of coal.

Despite the lower coal sales, New Hope’s saleable coal production was up 4% over the corresponding quarterly period.

While the Jeebropilly mine ceased coal mining this month after exhausting its reserves, the wash plant on the site will continue to operate, processing coal from the New Oakleigh mine at a reduced rate.

“Consequently, overall production during the next quarter may be reduced in comparative terms due to the lost Jeebropilly coal production,” the company said.

Some of the losses incurred by the closure of Jeebropilly are expected to be offset by the Acland Stage 2 expansion, scheduled for completion in April.

New Hope's current coal operations in Queensland comprise three opencut mines (Jeebropilly, New Oakleigh and New Acland) in the Clarence Moreton Basin, supplying a wide range of domestic and export customers.

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