type public asx nhc industry resourcess headquarters brisbane australia area served australia key people robert milner chairman robert neale managing director products coal bulk handling exploration revenue a 662.4 million 2011 operating income a 719 million 2011 net income a 503.1 million 2011 total assets a 2749.2 million 2011 number of employees 250 fte website www.newhopecoal.com.au 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 . 1 new hope coal s current chairman is robert millner . 1 the company s ceo is robert neale . 2 contents 1 history 2 colton mine 3 new saraji 4 see also 5 references history edit 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 . citation needed 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 . citation needed 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 . the increase in exports played a major role in restructuring the workforce in the district with open cut mining being more cost effective to compete on the world market . by the beginning of the 1990s only 230 underground miners remained employed by the underground mines of mw haenke no. 2 new hope western leases nos. 1 and 2 and oakleigh no. 3 . further decline in the profitability of underground mining meant the closure of the last underground mines in the district by mid 1997 leaving three companies in the ipswich area operating four open cut pits . at the end of the last century the declining export market and australian dollar increased pressure on the local mining operations forcing further restructure . all facets of the operations were investigated to find cost effective solutions . one of the results of this cost cutting exercise was the cessation of barging coals along the bremer and brisbane rivers with the last barge sailing 30 april 1998 . citation needed it was the end of an era ; coal had been barged to various sites on these rivers the last of which was qbh at fisherman islands since the 1840s . to service the new acland mine new hope coal financed and constructed a 14 kilometres 8.7 mi road between jondaryan and acland in 2001 . 3 coal from the new acland mine was unable to be transported from the mine via rail after the western railway line was damaged during the 2010 2011 queensland floods . 4 trucks were used instead . by 2011 the company was exporting 65 % of its coal leaving 35 % for domestic markets . 5 in 2012 new hope abandoned plans for its sale after it failed to find a buyer . 6 more recently new hope coal was able to obtain approval for stage 3 of the mine from the campbell newman state government after payment of a 650 000 7 campaign donation . colton mine edit the company has plans to develop a new mine 8 kilometres 5.0 mi from maryborough called the colton mine . 8 200 million was paid to northern energy for the mining lease . environmental concerns has been raised about the mine because it is expected to discharge 985 million litres into the mary river . new saraji edit in july 2008 new hope entered into an agreement to sell its new saraji coal project to bhp billiton mitsubishi alliance bma for a 2.45 billion . 6 new hope has identified more than 690 million tonnes of coal at new saraji 534 million tonnes inferred and 156 million tonnes indicated which is near the town of dysart in central queensland . new hope chairman robert millner said the sale would assist new hope in expanding its new acland mine situated outside toowoomba and further development of new hope s queensland bulk handling port facility in brisbane . this sale realises substantial value for the new saraji project . the cash was earmarked to fund growth of the new acland mine which has continued to increase production to more than four million tonnes a year with an application to increase production to 10 million tonnes a year . new hope corporation was advised on the deal by pitt capital partners . see also edit queensland portal companies portal list of australian companies references edit a b ali moore 24 september 2009 . soul pattinson chair discusses company s success transcript . lateline business . australian broadcasting corporation . retrieved 2009 10 23 . francene norton 15 february 2006 . mine expansion sends qld town packing . the world today . australian broadcasting corporation . retrieved 2009 10 23 . new hope coal mine road link to create jobs . abc news online . australian broadcasting corporation . 29 november 2001 . retrieved 2009 10 23 . sarah jane tasker 23 march 2011 . flooding hits new hope coal shipments . the australian . news limited . retrieved 3 june 2012 . david dittman 6 october 2011 . new hope corp australia s thermal coal king announces auction . investing daily . retrieved 3 june 2012 . a b tony grant taylor 2 march 2012 . group gives up hope for a sale . herald sun . retrieved 3 june 2012 . http www.theaustralian.com.au national affairs state politics donors get mine approval on quiet story fnr8rfrw 1227181486790 nk cc63a0ef91f2415df149b93ee03b197b . missing or empty title help new hope upbeat on mine prospects . fraser coast chronicle . the maryborough hervey bay newspaper company . 6 december 2011 . retrieved 3 june 2012 . v t e mining companies of australia adelaide brighton cement allegiance mining alumina aquarius platinum atlas iron bhp billiton bougainville copper compass resources copper mines of tasmania energy resources of australia fortescue metals group grd hancock prospecting iluka resources international ferro metals laguna resources macarthur coal macmahon holdings magellan metals marathon resources marston minara resources mineralogy minerals and metals group mount lyell mining and railway company new hope coal newcrest mining orocobre oz minerals paladin energy pilbara iron qcoal rio tinto aluminium rio tinto group south32 tiwest joint venture retrieved from https en.wikipedia.org w index.php title new hope coal & oldid 698948705 categories coal companies of australiamining in queenslandcompanies based in brisbaneenergy companies established in 1904non renewable resource companies established in 1904companies based in queenslandhidden categories pages with citations lacking titlespages with citations having bare urlsuse dmy dates from may 2011use australian english from may 2011all wikipedia articles written in australian englishall articles with unsourced statementsarticles with 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