New Hope Corporation has warned of weaker than expected sales and lower production this year after earnings slumped almost a third in the last quarter, sending the thermal coal miner’s share price sinking.
The profit hit highlights the abrupt turnaround from a three-year super cycle, as outsize demand for thermal coal and limits to supply from Russian mines sent the price of the fossil fuel soaring. New Hope made more profit between 2021 and 2024 than in the previous 16 years combined.
