On 27 July 2022, New Hope , through a wholly-owned subsidiary, acquired a 15.0% 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.
During 2025, New Hope acquired an additional 3.00% stake in Malabar, increasing its total equity interest to 22.98%.

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