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New Hope improves production

29th May 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Coal miner New Hope has reported an 11% increase in its raw coal production for the three months to April, compared with the previous corresponding period, while saleable coal production increased by 18%.

New Hope noted that production at the company’s mines had remained solid during the quarter under review, while the previous quarter’s production was affected by heavy rains.

During the quarter under review, coal sales declined by 17% to 1.33-million tonnes, compared with the 1.6-million tonnes sold in the previous corresponding period.

New Hope said that the decline in sales was as a result of the uneven timing of shipments.

The company told shareholders on Wednesday that a review process of its two operations in Queensland had identified productivity improvements, and this would initially result in a number of positions becoming redundant at the West Moreton operations and at the corporate office.

The review would have no impact on production.

Edited by Creamer Media Reporter

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