Tag: New Hope

Impetus is growing for the Queensland State Government to approve New Hope Groups’s New Acland Stage 3 project. The planned expansion to the existing mine, which had an environmental impact assessment carried out in 2010, aims to extend the operating life of the mine to about 2042, with annual production tipped to rise to 7.5mt. Yet now, 10 years on – despite the many economic benefits that the project would bring – the miner is still awaiting the green light. Shadow State Development minister Andrew Powell is among many who have questioned the Government’s motives for stalling approvals. After visiting the New Acland site, he said he was impressed by the operation, particularly the rehabilitation work being done. “The rehabilitation is outstanding,” he said. “It’s hard to believe...

Bengalla Coal: New Hope BENGALLA Coal in NSW’s Hunter Valley has literally provided new hope for the New Hope Group. A promising performance from the mine has been the main reason for solid coal earnings for New Hope in the past year, driven mainly by increased production. The company generated a revenue of $618m in the six months ending January, which was in line with its income in the prior corresponding period. New Hope managing director Shane Stephan said this was largely due to the success of Bengalla, in which New Hope has 80pc interest. He said the result was achieved despite a 29pc decline in coal prices during the period, which the company had offset with 42pc higher sales...