New Hope Group has recorded an increase in both run of mine coal production and saleable coal production at its New Acland mine in Queensland.
New Acland produced 1.9 million tonnes of run of mine (ROM) coal production in the three months to June 30, a 5.4 per cent increase on the previous quarter. Saleable coal production was 0.9 million tonnes, a 32.7 increase on the previous quarter.
New Hope’s Bengalla mine in New South Wales was impacted by several weather events during the quarter. Flooding around the Newcastle region hampered vessel movements and caused longer than usual shipping queues at the Port of Newcastle, and a number of rail cancellations also created on-site stock management challenges.
While ROM coal production was three per cent down quarter-on-quarter at Bengalla, saleable coal production was constrained to 1.6 million tonnes, 22.9 per cent lower than the previous quarter. This drop-off was offset by New Acland improved performance, with the wider New Hope Group announcing higher outputs for the full-year.
The company reported group-wide saleable coal production of 10.7 million tonnes for the 2024–25 financial year (FY25), 18.1 per cent higher than it produced in FY24. Underlying earnings before interest, taxation, depreciation and amortisation was also within its earlier guidance, reaching $765.8 million for FY25.
New Hope is also continuing its exploration activities, across the Bengalla licence and West Muswellbrook tenement. The company spent $1.5 million on these projects over the quarter.
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