This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
New Hope Corporation Limited is a thermal coal mining company whose primary business is the extraction, processing, and export of coal. It operates the Bengalla Mine in New South Wales and the New Acland Mine in Queensland, with its coal primarily destined for export markets in Asia. The company’s core operations and revenue are fundamentally tied to thermal coal production.
The company’s New Acland Mine has been the subject of extensive legal and regulatory challenges over its proposed expansion. In 2019, the mine was fined for drilling 27 illegal bores. A long-running legal battle, spanning over a decade, culminated in a 2021 High Court victory for a group of farmers and activists opposing the mine’s Stage 3 expansion. The litigation involved a mammoth hearing in the Queensland Land Court, judicial review, and multiple appeals. The mine has also faced investigations for potential non-compliance with its license conditions.
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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