New Hope Corporation (NHC)

Shares / Stock Code

NHC

Stock Exchange / Sharemarket

ax

New Hope Corporation Limited (NHC) is coal mining company primarily engaged in mining and wholesale of coal, investment in bulk material coal handling operations, exploration and land management activities and investment in coal seam gas operations. New Hope listed on the ASX on 16 September, 2003. The Company’s head office is located in in Ipswich and at present it has over 250 people employed. NHC operates in south-east Queensland with open cut mines located in Acland on the Darling Downs, and at Rosewood near Ipswich. The company is focused on niche marketing of its thermal coal and exports around 65 % of coal production to Asia Pacific markets comprising Japan, Korea and Chile while the rest to the clients in south-east Queensland.

New Hope completed the acquisition of Queensland Bulk Handling on August 1, 2007, a common user coal export terminal at the Port of Brisbane. It acquired 18.3% interest in Arrow Energy as of July 31, 2007. By 1983, New Hope’s production of coal amounted to 1.2 million tpa (mtpa). NHC sold its interest in Multi Harapan to concentrate on Adaro in 1996. In December 1999, it acquired the Acland deposit in south-east Queensland. The New Acland coal mine commissioned in October 2002, with the production rate of coal as 1.15 mtpa which increased up to the rate of 2.5 mtpa by 2004. In 2005, NHC sold its interests in the overseas operations thus allowing it to focus on its Australian operations.

NHC has significant coal reserves and currently the Company is focused on coal mining and to achieve greater cost efficiency.

New Hope Corporation History

New Hope Coal began coal exporting from the Ipswich region in early 1980s and it was one of the first companies to export coal produced in the region. The Company listed on the Australian Stock Exchange in September 2003.

NHC’s South East Queensland coalfields production by the end of the 1960s was around 2.25 million tonnes per year. During the 1980s, the coal production in the West Moreton District was more than two million tonnes, realising over $40 million in revenue, most part of which was re-invested in Ipswich. In 1983, New Hope established a joint venture with TNT Shipping and Development to provide a coal loading facility at the Port of Brisbane. The Queensland Bulk Handling (QBH) was commissioned at Fisherman Islands the same year.

In 1984, the Company had 13 underground and eight open cut mines in operation in the Ipswich region with over 1,000 people employed. Its total production from these mines was 2.9 million tonnes for the year.