Australia's New Hope buys 15% stake in Malabar Resources

sxcoal.com Price,  Production & Sales,  Coking Coal 2022-08-03 14:53:48

Australia's New Hope Corp Ltd has bought 15% stake in unlisted Malabar Resources Ltd for $ 65.25 million to increase its income amid high coal prices, the company said on August 3.


Malabar is building an underground metallurgical coal mine named Maxwell mine in the Hunter Valley of New South Wales state.


New Hope said the purchase is in line the company's strategy to invest its surplus cash into coal assets that are low on the cost curve with long life approvals.


Maxwell has proved and probable reserves of 144 million tonnes, with an estimated life of at least 25 years, and more than 75% of the product suitable for steel production, New Hope said.


The mine is expected to produce 3.0-3.6 million tonnes of coal over the initial four years and then to 5.5-6.5 million tonnes for the remaining life after a proposed expansion, New Hope said.


(Writing by Emma Yang  Editing by Harry Huo)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

Share this article
Connect with us

Editor's Pick

1 Indonesian thermal coal prices dive before holiday 2022-09-30

Indonesian thermal coal prices registered a big fall from the recent high, as Chinese demand retreated before the week-long National Day holiday. Sellers offered a batch of Indonesian 3,8

2 China Coal Daily Track (Sep 30) 2022-09-30

Thermal coal Production area Thermal coal prices generally remained high at main production areas, given relatively good sales and no stocks at mines. Yet some miners with high offers started cu

3 China's post-holiday coke market outlook bearish with unclear output cut effect 2022-09-30

Participants were bearish about the Chinese met coke market after the National Day holiday, as they doubted the actual effect of production cut and environmental crackdown. Although some

4 Thermal coal trades muted at N China ports before weeklong holiday 2022-09-30

Spot thermal coal trades became muted in northern China ports, as many participants left the market for the week-long National Day holidays. On September 30, the benchmark 5,500 Kcal/kg N

5 Ningxia Jan-Aug coal production up 10.8% on yr, stocks worth 9 days of sales 2022-09-30

Northwestern China's Ningxia autonomous region produced 62.82 million tonnes of coal from January to August, up 10.8% year on year, with the growth down 1.1 percentage points from the first seven mont

6 S China may still see high power coal demand in early Oct 2022-09-30

Demand of thermal coal used for power generation may remain high in China early next month, owing to high temperature and less rainfalls in the southern region. High temperature has been

7 Hubei major power plants' coal burns jump 76.4% in Aug 2022-09-30

Major power plants in central China's Hubei province consumed 7.27 million tonnes of coal in August, surging 76.4% or 3.15 million tonnes from a year ago, showed data from the local development and re

8 Holiday Notice – National Day 2022-09-30

Sxcoal will suspend website updating during the National Day holiday (October 1-7) until we return to work on Saturday, October 8, 2022, in line with the government's holiday arrangements.

9 Monthly: China's coking coal prices continue rising on recovered demand 2022-09-30

China's coking coal prices continued to increase in September as coke makers' demand for the feed coal increased. But the growth contracted clearly compared with a month ago, since steel industry rema

10 China's thermal coal miners expect no obvious price cut ahead of CPC congress 2022-09-30

A large number of thermal coal miners contacted by Sxcoal anticipated mine-mouth prices are unlikely to drop in the near term, as coal supplies are expected to remain in tightness before the 20th Nati

Most Read Articles

1 Indonesian thermal coal prices dive before holiday 2022-09-30

Indonesian thermal coal prices registered a big fall from the recent high, as Chinese demand retreated before the week-long National Day holiday. Sellers offered a batch of Indonesian 3,8

2 Indonesian thermal coal falls on as Chinese buyers slow purchases 2022-09-29

Offer prices of Indonesian thermal coal sagged on September 28, pressured by weaker Chinese demand as high prices and currency depreciation added the cost burden. On September 28, October

3 Holiday Notice – National Day 2022-09-30

Sxcoal will suspend website updating during the National Day holiday (October 1-7) until we return to work on Saturday, October 8, 2022, in line with the government's holiday arrangements.

4 China's thermal coal market cooling down, only temporary? 2022-09-29

After rising to the highest level this year fueled by active purchases, thermal coal prices in China continued to move sideways on September 29 as many buyers backed out of the market and waited for f

5 Summary of China's 2025 energy and emission reduction goals 2022-09-29

Chinese provinces have successively released their goals for energy and emission reduction by 2025. Sxcoal has summarized them as below:

6 China Coal Daily Track (Sep 30) 2022-09-30

Thermal coal Production area Thermal coal prices generally remained high at main production areas, given relatively good sales and no stocks at mines. Yet some miners with high offers started cu

7 Weekly global coal market news summary (Sep 26-30) 2022-09-30

Mongolia exports 1.96 Mt of coal in first half of Sep, up 356% YoY Mongolia exported 1.96 million tonnes of coal during the first half of September, rising 9.97% compared with the same period

8 Monthly: China's coking coal prices continue rising on recovered demand 2022-09-30

China's coking coal prices continued to increase in September as coke makers' demand for the feed coal increased. But the growth contracted clearly compared with a month ago, since steel industry rema

9 China's post-holiday coke market outlook bearish with unclear output cut effect 2022-09-30

Participants were bearish about the Chinese met coke market after the National Day holiday, as they doubted the actual effect of production cut and environmental crackdown. Although some

10 Thermal coal trades muted at N China ports before weeklong holiday 2022-09-30

Spot thermal coal trades became muted in northern China ports, as many participants left the market for the week-long National Day holidays. On September 30, the benchmark 5,500 Kcal/kg N