https://www.engineeringnews.co.za

New Hope posts solid quarter

23rd May 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Coal miner New Hope Corporation has posted solid results for the quarter ended April, with underlying earnings before interest, taxes, depreciation and amortisation up by 14.8% on the previous quarter, to A$448.1-million.

New Hope this week reported that run-of-mine coal production for the quarter was up by 27% on the quarter ended January, to 2.6-million tonnes, with saleable coal production up 32% to just over 2-million tonnes, as the Bengalla operation, in New South Wales, increased production.

Coal sales for the quarter also increased by 47%, to 2.1-million tonnes, from the 1.4-million tonnes sold in the previous quarter.

New Hope told shareholders that the expansion of the Bengalla operation to 13.4-million tonnes a year run-of-mine was progressing well, with construction work having started on the coal handling and preparation plant (CHPP) tailings capacity upgrade project.

In Queensland, the company is also continuing with the New Acland Mine Stage 3 expansion, with the CHPP refurbishment project ongoing and the company preparing the plant for first coal washing during the first quarter of 2024. The miner is expected to spend A$15-million on the CHPP refurbishment.

Preparation is also under way for major infrastructure work at New Acland, with the company expected to invest A$198-million on major infrastructure works.

In the meantime, the miner is facing a fresh legal challenge against the Stage 3 expansion, with environmental group Oakey Coal Action Alliance having launched a challenge against the Queensland government’s grant of an associated water licence in the Land Court.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.066 0.796s - 140pq - 2rq
Subscribe Now