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Australia New Hope coal sales slump on rail embargoes during Commonwealth Games

Coal News - Published on Thu, 31 May 2018

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Platts reported that Australian thermal coal miner New Hope said 29 May that its coal sales were down 13% year on year to 1.90 million tonne during the February-April quarter as rail restrictions put in place for the Commonwealth Games negatively impacted its Queensland operations.

The slump came as its 100% owned and operated Queensland-based New Acland and Jeebropilly mines saw sales fall 31% year on year to 1.01 million tonne.

Its 40% owned New South Wales-based Bengalla mine, meanwhile, posted sales of 892,000 tonne, up 24% on the year, the report showed.

New Hope said that “Significant outages of the western rail system were experienced during April. This rail system services both the New Acland and Jeebropilly mines and the outages were a result of freight rail embargoes during the Commonwealth Games and scheduled maintenance outages.”

The inability to rail coal during this period also had an impact on coal production as site stockpiles reached capacity, it said.

Its Queensland operations’ saleable coal production was 1.22 million tonne during the quarter, down 2% from the corresponding period last year. Its Bengalla operation saw saleable production rise 13% over the same period to 886,000 mt.

Despite the rail issues, full year coal production and sales from the Queensland coal operations are expected to be similar to that of last year, while Bengalla’s production and sales are expected to be slightly higher year on year, New Hope said.

The miner’s Queensland operations saw sales of 5.12 million mt in the August 2016-July 2017 period, down 6% from a year earlier, and its Bengalla operation sold 3.41 million mt, up 132% as it was the first full 12-months of New Hope’s ownership of the mine. It purchased its 40% share from Rio Tinto.

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Posted By : Amom Remju on Thu, 31 May 2018
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