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Tropical cyclone flattens New Hope's coal output in fiscal Q3

New Hope Corp. Ltd.'s total raw coal production for the three months to April 30 slipped 1.4% year over year to about 3.5 million tonnes due to the impact of tropical cyclone Debbie on the Queensland operations in Australia.

According to the May 29 results, the company's 100%-owned Queensland mines produced 8.1% less raw coal at 2.6 million tonnes during the third quarter of the ASX-listed producer's 2017 financial year.

However, production from the 40%-owned Bengalla mine in New South Wales climbed 23.2% to 932,000 tonnes compared to the same period of 2016.

Total salable coal production, meanwhile, rose 10.9% year over year to 2.0 million tonnes and total coal sold increased 18.6% to about 2.2 million tonnes.

New Hope said salable coal production was consistent with the previous corresponding period due to improved coal processing yields.

Throughput at the Queensland bulk handling terminal also improved during the quarter, up 15.8% to 1.8 million tonnes compared to a year earlier, due to a ship loader outage in November 2016, which resulted in an increase in coal stock levels.