- Write by:
-
Tuesday, September 22, 2020 - 10:47:17 AM
-
656 Visit
-
Print
Mining News Pro - New Hope Group forecasts that 500 jobs could be created, and a further 125 jobs saved, if the New Acland coal mine in Queensland finally wins a stage three approval.
New Acland made 150 workers redundant in September following legal disputes that had delayed the mine’s stage 3 approval.
To date, 175 employees have been made redundant at the New Acland coal mine and another 23 workers also lost their jobs at the corporate office and the Brisbane port facility.
According to the company’s financial results for the 2020 financial year, New Acland’s coal production was down 33 per cent from 2019 production at 2.8 million tonnes.
Stage 2 operations at the mine will continue to wind down, as New Acland has warned that the remaining workforce will lose their jobs in the next 12 months if stage 3 approvals continue to be stalled.
“The company remains focused on securing all necessary approvals for Acland stage 3 to target continuity of operations and employment for the workforce and contractors who rely upon the operation to support their families,” New Acland stated.
New Hope recorded an increase to its overall coal production of 11.3 million tonnes and coal sales of 11.5 million tonnes despite delays in New Acland expansion, COVID-19 and a volatile coal market.
This was largely driven by New Hope’s interest in the Bengalla joint venture for the Bengalla thermal coal mine in New South Wales.
However, its revenue for the full year ending 31 July 2020 fell 17 per cent to $1.08 billion.
New Hope expects coal markets to remain volatile, but strong demand for thermal coal from Asia to bolster the company’s business.
Short Link:
https://www.miningnews.ir/En/News/602701
Coal India Ltd., the world’s largest producer of the commodity, reported a 26% increase in fourth-quarter profit, driven ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
Teck Resources, Canada’s largest diversified miner, saw its copper production jump by 74% in the first three months of ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
BHP Group Ltd. proposed a takeover of Anglo American Plc that values the smaller miner at £31.1 billion ($38.8 billion), ...
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
The world’s coal-fired power capacity grew 2% last year, its highest annual increase since 2016, driven by new builds in ...
No comments have been posted yet ...