New Hope Corporation has released its 2026 Coal Resources and Reserves update, reporting significant increases to resource estimates at both its operating mines. The company reported a 262 million tonne resource increase at Bengalla Mine and a 151 million tonne increase at New Acland, with both updates reflecting revised geological models based on recent exploration drilling. These additions represent material upgrades to the company’s asset base and suggest stronger future production potential across the portfolio.
The Bengalla update is the most significant, with underground resources increasing from 76 million tonnes to 100 million tonnes, while an additional 238 million tonnes of open cut resources has been identified within adjoining exploration licences. New Acland’s 151 million tonne increase came from exploration drilling conducted over two financial years within the approved mining pit limits. All other assets, including West Muswellbrook, Elimatta, Collingwood, Taroom and Woori, remained unchanged from 2025 estimates, with no additional exploration undertaken outside the two operating mines.
For investors, the implications are potentially significant. Larger resource bases typically extend operational life and can support higher production levels over longer periods. The additions were generated through exploration success within the company’s existing licence areas, confirming geological potential that was identified in earlier studies. The Bengalla extensions in particular open areas that were previously only exploration licences, indicating the company has found commercially prospective regions adjacent to its existing mining lease.
However, important caveats apply. The new resources, especially the 238 million tonnes of open cut material at Bengalla, remain classified as resources rather than reserves. The company notes that further mine planning and economic analysis are required before extensions can be converted into reserves. A pre-feasibility study is underway to assess the potential extension into exploration licence areas, but this work remains incomplete. Until these studies progress, investors cannot assume that all identified resources will ultimately enter the production pipeline.
The timing of conversion from resources to reserves and the outcomes of the ongoing pre-feasibility study will be key watchers for the market. Investors should monitor announcements regarding completion of that study and any updates on the economic viability of extending Bengalla operations. The speed at which New Hope can move these resources into defined reserves and eventual production will materially influence the value of these discoveries. This announcement was released to the ASX on 15 September 2026 and is flagged as price sensitive and material disclosure.
View the full ASX announcement (PDF)
About New Hope Corporation Limited (ASX: NHC)
New Hope Corporation is an Australian thermal coal miner operating the 100% owned New Acland coal mine in Queensland and the 80% owned Bengalla coal mine in New South Wales. The company sells the majority of its thermal coal production to seaborne export markets throughout Asia, and also engages in port handling, logistics, oil and gas development and production, and agricultural operations.
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