Coal mining company New Hope Corporation has reported strong financial results for the fiscal year ending in July. Despite a decrease in saleable coal production to 7.2 million tonnes from 7.9 million tonnes in the previous fiscal year, the company's net profits after tax increased from A$983 million to A$1.08 billion. This growth was attributed to robust demand and global supply chain disruptions, which drove thermal coal prices to record levels in the first half of the fiscal year. Underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) also rose from A$1.57 billion to A$1.74 billion. New Hope CEO Rob Bishop praised the company's exceptional performance, which allowed it to finish the year with a healthy cash position of A$730.7 million, no debt following the repurchase of convertible notes, and a net asset position of A$2.525 billion. The successful performance enabled the company to reward shareholders with a final fully franked dividend of 21 cents per ordinary share and a special fully franked dividend of 9 cents per ordinary share. Bishop highlighted the accomplishments at the Bengalla mine, which produced 9 million tonnes of saleable coal in the fiscal year despite adverse weather conditions and logistical disruptions. Additionally, New Hope secured all necessary approvals from the Queensland government for the New Acland mine Stage 3 expansion, which includes an Environmental Authority, Mining Leases, and an Associated Water Licence. The Stage 3 project, which commenced operations in May 2023, is expected to increase the mine's annual output from 4.8 million tonnes to 7.5 million tonnes and extend its operational life by 12 years. The project will be funded by operational cash flows, with an estimated expenditure of A$459 million over the next three fiscal years. First coal sales from the Stage 3 project are targeted for the 2024 fiscal year, with full production expected by the 2027 fiscal year. During the peak of construction, approximately 600 local workers will be employed at New Acland mine, and the permanent workforce is expected to comprise around 400 full-time roles, primarily filled by Darling Downs locals.