Tag: Bengalla

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…

New Hope managing director Shane Stephan. Image: New Hope Group. Demand for coal fired power is expected to increase in the coming decades, both at home and abroad. Emma Davies spoke with New Hope Group managing director Shane Stephan about its Bengalla mine, flow on effects of Stage 3 at New Acland and his outlook for coal exports to Asia. Q. What steps did you take to achieve a 5 per cent increase in production in FY18 to 9 million tonnes? It was really due to a 10 per cent increase in the production out of Bengalla in NSW. Multiple things drove the production improvements from Bengalla; investments were made in 2016 in improving pit room which enabled great throughputs…