Coal miner New Hope reports exceptional performance in FY23 with net profit exceeding A$1 billion kitco.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitco.com Daily Mail and Mail on Sunday newspapers.
Coal miner New Hope Corporation has posted solid results for the quarter ended April, with underlying earnings before interest, tax, depreciation and amortisation up by 14.8% on the previous quarter, to A$448.1-million.
New Hope this week reported that run-of-mine coal production for the quarter was up by 27% on the quarter ended January, to 2.6-million tonnes, with saleable coal production up 32% to just over 2-million tonnes, as the Bengalla operation, in New South Wales, increased production.
Coal miner New Hope Corporation is facing yet another legal challenge to its New Acland Mine Stage 3, with environmental group Oakey Coal Action Alliance (OCAA) having launched a challenge.
The OCAA is challenging the Queensland government’s grant of an associated water license in the Land Court, and is seeking undertakings that New Acland Coal cease carrying out operations, including the mining of coal, pending the outcome of the appeal.