New Hope Corp. on Monday reported a rise in coal sales from the previous quarter despite weaker production and said earnings were boosted by higher coal prices.
The Australian mining company said it sold 2.80 million metric tons of coal in the three months through January, up from 2.63 million tons during the three months prior.
The company sold stockpiled coal as total output fell 12% to 2.05 million tons for the period.
New Hope said quarterly underlying earnings before interest, taxes, depreciation and amortization was 310 million Australian dollars (US$224.2 million), taking underlying Ebitda for the six months through January to roughly A$552 million.