New Hope sold its international asset – the Adaro opencut mine - for $US406 million on June 22. The company is yet to advise where sale proceeds will be spent.
Group production for the year ending July 2005 was 28 million tonnes, down 6% compared to 2004 figures. July quarterly raw coal production was dramatically down 30% at 5.5Mt.
Quarterly raw coal production from Australian operations - New Acland, Jeebropilly and New Oakleigh – was 15% higher than the previous corresponding quarter. New Hope attributed the rise to increased output from the New Acland mine.
Australian coal sales were 8% lower than the previous corresponding quarter, while annual sales volumes were similar to last year.
