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PERTH (miningweekly.com) – Coal miner New Hope has reported an increase in production and sales during the quarter ended October, as weather conditions in New South Wales improved.
Total saleable coal production during the three months under review reached 2.37-million tonnes, up from the 2.24-million tonnes reported in the previous corresponding period, while coal sales increased from 1.85-million tonnes to 2.14-million tonnes.
Revenue for the quarter was up by more than 56%, compared with the previous corresponding period, to A$238.6-million, while earnings before interest, taxes, depreciation and amortisation were also up by 147.3%, to A$99-million.
New Hope is currently working to get the Stage 3 expansion of its New Acland mine approved, arguing that it could deliver about A$7-billion in additional economic activity in Queensland.
The proposed New Acland Stage 3 project will expand the mine’s yearly output from 4.8-million tonnes to 7.5-million tonnes and will extend the operation’s life beyond the current end-date of 2017/18.