The company, which operates the New Acland mine on the Darling Downs and New Oakleigh near Ipswich, increased saleable coal production 4% to 3.8 million tonnes and boosted coal port operations 7% through associated company Queensland Bulk Handling for the year.

New Hope Corporation CEO Robert Neale said the results were solid and related to the company's four key interest areas: mining and sale of coal, investment in bulk material coal handling operations, exploration and land management activities and investment in coal related projects.

"Our Australian mining operations remained at full capacity, coal sales increased to

3.868 million tonnes, 2% above last year. Coal export volumes rose by 139,000 tonnes an increase of 6% while domestic sales fell 46,000 tonnes, 4% lower than last year," Neale said.

"Unlike the majority of Australian coal ports, the QBH facility at the Port of Brisbane remains an essentially demurrage free port which provides greater market flexibility.

"Throughput of coal at QBH was up 7% to 4.526 million tonnes. We purchased the remaining 50% of the company in August and already have preliminary design work underway on potential expansion of the port coal loading facilities.

"We continued our emphasis on exploration spending $7.166 million during the financial year. The majority of these funds were spent evaluating the New Saraji project and proving up reserves associated with New Acland tenements."

The New Saraji project comprises inferred coking coal resources of 678Mt. The New Acland deposit comprises inferred resources of 793Mt including 236Mt of marketable reserves.

Neale said the company is confident of a bumper year this year as it continues to develop new projects and future mining operations.

"New Hope continued R&D evaluation of a coal to diesel project. Concept testing has confirmed the technology is feasible and detailed design engineering and process-testing activities have commenced," Neale said.

"We spent some $23.7 million to acquire land for future mining operations at Acland during the year as part of a long term strategy for development of the mine. While some surplus land in Ipswich was sold during the year for an after tax profit of $6.6 million, investigations have commenced into possible development for sale of other surplus land holdings.

"We expect that coal prices will remain strong and believe we are well positioned for the coming year despite the strength of the Australian dollar and issues around rail capacity and port congestion."