On 27 July 2022, New Hope , through a wholly-owned subsidiary, acquired a 15.0 per cent interest in Malabar Resources Limited (Malabar). Malabar is an unlisted public company whose flagship asset is the Maxwell Mine, an underground metallurgical coal project located 10kms southwest of Muswellbrook in the Hunter Valley.
In February 2024, the Group acquired an additional 4.95 per cent stake in Malabar through participation in an equity raising. An additional 0.02 per cent stake was purchased from other shareholders subsequent to the equity raising, with an ending interest in Malabar of 19.97 per cent as at 31 July 2024.
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