COMPANY ACTIVITY

Rail availability issues weigh on New Hope result

NEW Hope Group's Queensland saleable coal production for three months to July 2017 was 9.6% lower than the prior corresponding period with coal processing constrained due to high stock levels and lower than anticipated rail availability.

Lou Caruana
New Hope Group's Acland mine in Queensland.

New Hope Group's Acland mine in Queensland.

The quarterly saleable production figure came in at 1.2 million tonnes, while the raw production figure was 2.6Mt.

On a full year basis saleable production from Queensland operations was consistent with the prior year.

Coal sales for the quarter were strong at an annualised rate of 5.9Mt with sales for the full year negatively impacted by the shiploader outage at the Port of Brisbane in November 2016.

Turning to New South Wales, New Hope’s 40% share of coal production from Bengalla for the quarter was 879,000t, 8% above the prior corresponding period and 12% above the previous quarter. 

Coal production for the quarter was positively influenced by productivity improvement initiatives and lower than average rainfall.

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