Coal miner New Hope Corporation has reported a solid financial year for the year ended July, with net profits after tax and underlying earnings before interest, tax, depreciation and amortisation (Ebitda) both growing. Despite saleable coal production in the 2023 financial year declining to 7.2-million tonnes, from the 7.9-million tonnes achieved in the 2022 financial year, net profits after tax increased from A$983-million to A$1.08-billion as strong demand and global supply chain constraints pushed thermal coal prices to record levels in the first half of the financial year.
PERTH – Coal miner New Hope Corporation has reported a solid financial year for the year ended July, with net profits after tax and underlying earnings before interest, tax, depreciation and amortisation both growing.
“Our flagship operation, the Bengalla mine, delivered 9-million tonnes of saleable production in the 2023 financial year, a reduction of 3% compared to 2022 and a commendable effort in light of rainfall, flooding and logistics disruptions. “We are proud to be welcoming team members back to New Acland. Stage 3 operations commenced at the mine’s Manning Vale East Pit in May 2023, and the coal handling and processing plant washed first coal earlier this month,” he added.
At the peak of construction, there will be approximately 600 local workers at New Acland mine. Throughout the life of the project, the permanent workforce will be approximately 400 full-time roles, made up of Darling Downs locals.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SIMMONS: Draft Day offers hope, promise for new women's hockey leagueThis is the new beginning for women\u0027s hockey \u002D the Professional Women\u0027s Hockey League. Draft day was Monday and the excitement was evident.
Read more »
SIMMONS: Draft Day offers hope, promise for new women's hockey leagueBillie Jean King walks by and you stop and stare and then you stare some more. Because she’s Billie Jean King. Because she’s a living, breathing ...
Read more »
SIMMONS: Draft Day offers hope, promise for new women's hockey leagueThis is the new beginning for women\u0027s hockey \u002D the Professional Women\u0027s Hockey League. Draft day was Monday and the excitement was evident.
Read more »
Australia Says Coal to Nuclear Switch Would Cost $249 Billion(Bloomberg) -- Replacing Australia’s coal-fired power stations with small modular nuclear power reactors would cost A$387 billion ($249 billion), according to Climate Change and Energy Minister Chris Bowen.Most Read from BloombergWall Street Comes to Grips With How Wrong It’s Been in 2023MGM Resorts Hackers Broke In After Tricking IT Service DeskThe World Is Struggling to Make Enough DieselHouse Republicans Prepare to Turn US Government Shutdown Into Immigration ClashUS, Chinese Officials Meet i
Read more »
Exclusive-Coal from Russian-annexed Ukraine sold in NATO member TurkeyAt least $14.3 million worth of coal produced in areas of Ukraine annexed by Russia has been exported to NATO member Turkey this year, according to Russian customs data reviewed by Reuters. Between February and July 2023, about 160,400 tonnes of coal from the annexed eastern Ukrainian regions of Donetsk and Luhansk arrived in Turkey, the data showed. Three producers listed in the customs data confirmed to Reuters they had shipped coal from the two regions to Turkey during that period.
Read more »
Exclusive-Coal from Russian-annexed Ukraine sold in NATO member TurkeyBy Filipp Lebedev and Gleb Stolyarov (Reuters) - At least $14.3 million worth of coal produced in areas of Ukraine annexed by Russia has been exported ...
Read more »