
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 volumes. Mr Stephan, who…