New Hope Coal
 |
|
| Public (ASX: NHC) | |
| Industry | Resourcess |
| Headquarters | Brisbane, Australia |
|
Area served
|
Australia |
|
Key people
|
Robert Milner (Chairman) |
| Products |
Coal Bulk Handling Exploration |
| Revenue |
 A$662.4 million (2011) |
 A$719 million (2011) |
|
|
A$503.1 million (2011) |
|
| Total assets |
A$2749.2 million (2011) |
|
Number of employees
|
250 FTE |
| Website | www.newhopecoal.com.au |
Robert Milner (Chairman)
New Hope Coal is an Australian coal-mining and energy company. New Hope's operations include New Acland Mine, Jeebropilly Mine, New Oakleigh Mine and Queensland Bulk Handling. New Hope Coal is 61.11% owned by Washington H. Soul Pattinson and is headquartered in Brisbane, Queensland.
The company was first listed in 1904. New Hope Coal's current chairman is Robert Millner. The company's CEO is Robert Neale.
The early 1980s saw the commencement of coal exporting from the Ipswich region, with New Hope being one of the first companies to successfully obtain trials of Ipswich coal into the Japanese market. New Hope's first export shipment, 17,332 tonnes of Bundamba coal, was aboard MV "Floret" which sailed from the Maynegrain grain terminal at Pinkenba on 10 September 1980. Increasing export coal business dictated the need for a dedicated coal terminal, so a joint venture between New Hope and TNT Shipping and Development was formed to develop a coal loading facility at the Port of Brisbane. Queensland Bulk Handling (QBH) was commissioned at Fisherman Islands in 1983.
In 1984, 13 underground and eight open cut mines were in operation in the Ipswich region. Total production from these mines, which employed just over 1,000 people, was 2.9 million tonnes for the year.
Exports continued to increase to the point where, in 1986, New Hope's market mix had about-faced to 90% export and 10% domestic sales. Despite the district's increase in exports through QBH, which reached 1.6 million tonnes, the reduced requirements for the Swanbank Power Station and cessation of supplies to the Brisbane power stations resulted in a drop in production of close to 12%. Total production from the Ipswich area was 2.8 million tonnes (1.54 from open cut mines and 1.28 from underground operations). Two mines, Westfalen and Box Flat were forced to close due to the termination of their supply agreements with the Swanbank Power Station.
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Wikipedia