Australian coal miner New Hope Corporation plans to suspend operations at the New Acland coal mine by the end of 2021 and place it under care and maintenance, local media reported.
New Acland, fully owned by New Hope, is an open-cut thermal coal mine in Bowen Basin, Queensland. The mine normally produces 4-5 million tonnes of coal per year, but the annual production fell to 3.01 million tonnes in FY 2020 and to 1.83 million tonnes in FY2021, as coal reserves were quickly exhausting.
New Hope is currently working on the New Acland Phase 3 expansion project, which aims to extend the mine's production life to 2031 through the project expansion. The expansion is underway, pending the acquisition of a mining lease and a new mine water development permit.
Earlier this year, the New Acland expansion project was rejected by the Queensland Land Court and the mine was at risk of further redundancies.
With the closure of the New Acland mine, the Bengalla open pit mine in New South Wales will be New Hope's only operating mine. New Hope holds an 80% stake in the mine, which produced 7.76 million tonnes in the last fiscal year.
(Writing by Alex Guo Editing by Harry Huo)
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