New Hope coal output up 11%
New Hope Corporation Limited (NHC) said saleable coal production increased 11% to 1.4 million tonnes in the three months to 31 October 2009 compared to the previous corresponding period. The company attributed a 20% jump in coal sold in the same period to strong demand from export customers coupled with higher production and available rail capacity.
New Hope said the increase to saleable coal production was due to slightly higher production from the company’s Acland mine, coupled with higher production from the Jeebropilly Mine during the quarter.
The company said production at the Oakleigh mine near Rosewood was lower than the previous corresponding period due to higher stripping ratios.
New Hope expects the expansion of the New Acland Mine to an annual production capacity of 4.8 million tonnes to be completed early in the next quarter.
“The scheduled 12 day shutdown of the New Acland Coal No. 2 coal handling & preparation plant occurred during September 2009, which enabled construction to be completed to increase its production capacity by 60%,” the company said.
“Commissioning was completed successfully in early October 2009.”
New Hope said its QBH export throughput moved 1.75 million tonnes during the quarter, up 14% on the pcp and that the expansion of the project is proceeding on schedule.
As at 1010 AEDT, New Hope shares were up 3c to $4.38.
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