MELBOURNE, March 19 (Reuters) - Australian thermal coal

miner New Hope Corp ( NHPEF ) on Tuesday reported a 62.4% drop in

its first-half profit in line with a fall in global coal prices,

and paid a dividend that beat analyst expectations as its New

Acland mine expansion ramps up.

New Hope saw first export shipments from its New Acland

stage 3 expansion and stronger sales volumes from its Bengalla

mine that underpinned higher sales volumes for the half.

That helped the company post a net profit of A$251.7 million

($165.01 million) for the six months ended Jan. 31, less than

half of its record profit of A$668.6 million a year earlier as

coal prices normalised following a jump at the onset of the

Ukraine war.

"We see a bright future for coal demand," New Hope CEO Rob

Bishop said in an interview.

"The way to net zero is going to take probably a lot

longer than first thought and coal demand will stay strong

throughout that transition, well past our current approvals," he

added.

New Hope posted an increase in its saleable coal

production during the half-year as its average realised prices

dropped 57% to A$197.03 per tonne. Shares traded up as much as

4.1% before easing to A$4.57, up 3.2%.

The miner declared an interim dividend of 17 Australian

cents per share, below the 30 cents it paid last year but higher

than brokerage Morgans' estimate of 12 cents.

"The dividend was modestly better than our expectations.

Bengalla (mine) looks on track. It's low maintenance and no

surprises, that's what investors love," said Morgans analyst Tom

Sartor.

New Hope increased to 19.9% its stake in privately held

Malabar which produces semi-soft coking coal, as it diversifies

its growth options.

It is also looking at opportunities with the Queensland

government to build a pumped hydro project with wind and solar

that could provide up to 5% of the state's electricity, Bishop

said.

In January, New Hope bought mining rights to West

Muswellbrook from Japan's Idemitsu near the western

side of its Bengalla mine, for future "optionality" for its

mining and agricultural businesses.

It has been approached by potential buyers for its

Bridgeport Energy oil unit and its West Moreton coal asset, it

added.

($1 = 1.5253 Australian dollars)