Coal sales volumes in the three months to 31 October 2015 were down on the previous corresponding year as a result of typhoons in the Asian region delaying vessels, he said.
“An operating profit has been returned for the first quarter, though down on the previous year’s comparable period as a result of weaker coal prices,” he said.
New Hope reached a binding agreement to acquire 40% interest in the Bengalla Coal Mine, subject to Joint Venture pre-emptive rights and other conditions during the quarter, Millner said.
The Land Court phase of the Mining Lease and Environmental Authority process for New Hope’s New Acland Stage 3 project has commenced, with hearings to commence in March 2016 and recommendations due in Q2 2016.
