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    Australia's New Hope Nov-Jan raw coal output up 38% on yr

    sxcoal.com Company,  Production & Sales,  International 2024-02-22 09:35:22

    Australian miner New Hope Corp. reported its raw coal production increased 38% year on year and 17% from a quarter earlier to 2.85 million tonnes over November 2023 to January 2024.

     

    Commercial coal output in the company stood at 2.05 million tonnes during the reporting period, up 33% from 1.54 million tonnes last year and unchanged from the previous quarter. Over November to January, the company sold 1.95 million tonnes of coal, up 33% from a year ago and 7% on the quarter, according to its financial report released on February 19.

     

    The company produced 2.39 million tonnes of raw coal from the Bengalla coal mine in NSW, 8% higher than the prior quarter. Commercial coal production totaled 1.82 million tonnes, declining 8% from the preceding quarter and coal sales stood at 1.85 million tonnes, up 2% on the quarter.

     

    The company's earnings before interest, taxes, depreciation and amortization (EBITDA) were A$180 million during the given period, down 26.5% from August to October 2023. The Coal sale price averaged A$180.64/t, much lower than A$221.4/t last quarter.

     

    From August 2023 to January 2024, New Hope totally produced 5.30 million tonnes of raw coal, increasing 23% from a year ago. Commercial coal output rose 29% on the year to 4.09 million tonnes and coal sales came in at 3.77 million tonnes, up 13% year on year.

     

    The report also noted that the company targets producing 12.26 million tonnes of raw coal in FY23-24, of which 9.28 million tonnes would be commercial coal and 9.02 million tonnes to be sold.

     

    (Writing by yan.sun  Editing by Harry Huo)
    For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

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