Business
New Hope (ASX:NHC) share price on watch on Q2, 48% higher coal prices
The New Hope Corporation Limited (ASX: NHC) share price will be on watch today after releasing its FY21 second quarter update.
New Hope is one Australia’s biggest coal miners with operations in both Queensland and NSW.
New Hope’s second quarter update
The coal company said that its total saleable coal production for the quarter to January 2021 fell 18% to 2.88 million tonnes, while total coal sold decreased by 14.8% to 3.02 million tonnes.
Looking at the half-year to January 2021, total saleable coal production was down 27.9% to 6.21 million tonnes and total coal sold fell by 23.3% to 6.36 million tonnes.
New Hope said that there had been stronger demand for coal forecasted as economic activity increases across Asia. Total coal…
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