Cashed up miner New Hope will almost double coal production over the next six years and says energy security must remain a priority as climate experts warn new fossil fuel assets are putting the world on track for temperature rises beyond 1.5 degrees by 2030.

Speaking just hours after the Intergovernmental Panel on Climate Change (IPCC) urged nations like Australia to stop approving new fossil fuel mines, New Hope said the energy crisis of the past year proved that a “reasonable and responsible” transition was required and increased supply of coal would help curb price volatility.