About Us

New Hope - Background

New Hope has operated coal mines in the Ipswich area of south-east Queensland since 1952. Current shareholders, Washington H. Soul Pattinson in conjunction with two private Australian companies, Farjoy Pty Ltd and Domer Mining Co. Pty Ltd, acquired control of New Hope in the early 1970s.

In 1970, New Hope produced nearly 250,000 tonnes per annum (tpa) of marketable coal from underground mining which increased to 400,000 tpa in 1978, primarily for supply to the Swanbank Power Station. Through acquisition and a focus on open-cut mining, New Hope increased production to 1.2 million tpa (mtpa) by 1983 and commenced exporting through Queensland Bulk Handling Pty Ltd (QBH), which was promoted and 50 per cent owned by New Hope. QBH, which is at the Port of Brisbane, is the common-user terminal for south-east Queensland coal exporters.

In 1985, New Hope acquired a 40 per cent interest in PT Multi Harapan Utama and managed the joint venture development of its coal mine in East Kalimantan to achieve a production level of 2.0 mtpa. This joint venture enabled New Hope to gain extensive experience in the  development and operation of a coal mine in Indonesia.

In 1989, New Hope Corporation entered into agreements to acquire an interest in PT Adaro Indonesia which had previously entered into a Coal Co-operation Agreement with Perusahaan Negara Tambang Batubara, an Indonesian Government-owned corporation. Drilling and subsequently mine and infrastructure construction began in 1990, with commercial coal production achieved in 1992. In 1996, New Hope sold its interest in Multi Harapan to concentrate on Adaro.

New Hope also developed a deep water bulk handling coal terminal facility on the island of Palau Laut in Indonesia, as part of its basket of overseas operations.

New Hope acquired the Acland deposit in south-east Queensland in December 1999. The project was fast-tracked and the New Acland coal mine was successfully commissioned in October 2002, at an initial marketable coal production rate of 1.15 mtpa. New Acland's production increased to the rate of 2.0 mtpa in early 2003 and in 2004 producation increased to 2.5 mtpa.

In 2005, New Hope sold its interests in the overseas operations allowing it to concentrate on its Australian operations.

New Hope currently employs over 250 people. A proud Queensland owned company, New Hope's head office is situated in Ipswich, 30 minutes west of Brisbane.

For further information on New Hopes current operations, please refer to Activities.