The future of New Hope Group's $900 million New Acland coal mine expansion remains up in the air, despite a Queensland court throwing out an appeal by Oakey farmers to stop the controversial project.

The company, which was put in a trading halt pending the court decision, was hoping it would clear the way for the Queensland government to grant final approvals for the stage three expansion of the mine, which has been stuck in the planning process for the past 12 years.