New Hope Reports 2.4 Billion Tonnes Coal Resources with Stable Reserves in 2025
New Hope Corporation has updated its 2025 coal resources and reserves, highlighting a significant increase at West Muswellbrook due to a new geological model, while overall reserves remain steady.
- Increase in West Muswellbrook coal resource estimates
- Bengalla and New Acland reserves adjusted for depletion
- Exploration ongoing at Bengalla EL9431 and New Acland Stage 3
- Total coal resources slightly decreased from 2024
- 260 million tonnes of recoverable reserves require further approvals
Updated Resource Estimates
New Hope Corporation has released its 2025 update on coal resources and reserves, adhering to the JORC Code 2012 standards. The standout development is the increase in coal resource estimates at the West Muswellbrook deposit, driven by a comprehensive new geological model developed over the past two financial years. This model incorporates detailed seam correlation and coal quality data, reflecting a more refined understanding of the deposit's potential.
Stable Reserves Amid Depletion
While West Muswellbrook's resources have grown, the Bengalla and New Acland deposits show adjustments primarily due to depletion from mining activities between reporting periods. The reserves at these sites remain largely stable, with no material changes to their geological models reported for the 2025 financial year. This stability suggests consistent operational performance and resource management at New Hope's core mining assets.
Exploration and Future Prospects
Exploration efforts continue to underpin New Hope's growth strategy. Drilling within the Bengalla Exploration Licence EL9431 is ongoing, with an updated resource estimate expected in 2026 following a planned concept-level study. Similarly, exploration within the New Acland Stage 3 mining pit limits has been active over the last 18 months, with an updated geological model in development. However, given that most resources in this area are already classified as Measured, significant changes to resource or reserve estimates are not anticipated.
Resource and Reserve Overview
The total coal resources reported as of 31 May 2025 stand at 2.426 billion tonnes, a slight decrease from 2.547 billion tonnes in 2024. This includes 76 million tonnes classified as underground resources. Recoverable coal reserves total 837 million tonnes, marginally up from 818 million tonnes the previous year. Notably, 260 million tonnes of these recoverable reserves require additional regulatory approvals beyond the New Acland Stage 3 project, highlighting potential hurdles for future production expansion.
Governance and Reporting Integrity
The resource and reserve estimates have been compiled and verified by qualified professionals within New Hope, ensuring compliance with the rigorous JORC Code (2012) standards. This transparency and adherence to industry best practices provide investors and stakeholders with confidence in the reported figures and the company's operational outlook.
Bottom Line?
As New Hope advances exploration and navigates approval processes, the coming year will be pivotal in translating resource potential into production growth.
Questions in the middle?
- How will the pending approvals for 260 million tonnes of recoverable reserves impact New Hope’s production timeline?
- What are the expected financial implications of the updated West Muswellbrook geological model?
- Could exploration outcomes at Bengalla EL9431 and New Acland Stage 3 significantly alter future resource and reserve estimates?
