Macarthur Coal

Macarthur Coal
Industry Mining
Fate Acquired by Peabody Energy
Founder Ken Talbot
Headquarters Central Queensland, Brisbane, Australia
Area served
 Worldwide
Key people
 Nicole Hollows
Chief Executive officer and Managing Director
Kieth De Lacy
Chairman
Products Coking coal
Decrease A$125.1 million (2010)
Total assets Increase A$1,567 million (2010)
Website www.macarthurcoal.com.au
Footnotes / references
[1]

Macarthur Coal was a mining company based in Queensland, Australia, which was incorporated in October 1995. The company was founded by Ken Talbot, who was a former chief executive officer.[2]

It specialised in the production of metallurgical coal from mines in the Bowen Basin, specifically low-volatile pulverised injection coal used in steel making; essentially all the coal it produced was exported from Australia.

Assets

The company maintained a 73.3% ownership in all its major mine projects.[3] As of 2010 it had open-cast mines at Coppabella, where the first coal was mined in October 1998, and 2.4 million tonnes of coal was produced from 2.9 million tonnes of material mined in 2009, and Moorvale (first coal March 2003, 2.2 million tonnes of coal from 2.9 million tonnes of material), and was opening a third mine at Middlemount with an initial target of 1.8 million tonnes of material per year. A fourth mine at Codrilla was selected for development in 2011.[3]

History

In the first half of 2010, Macarthur Coal made an offer for Gloucester Coal which was not successful; New Hope and Peabody Energy made offers for Macarthur Coal which were also rejected.

A force majeure declaration was in place for the five months preceding 28 April 2011, due to the 2010–2011 Queensland floods.[4]

In May 2011, the company announced that it had increased coal reserves estimates by 38% to 2.26 billion tonnes.[5]

The company was acquired by US company Peabody Energy in late 2011.[6]

See also

References

  1. ↑ "Macarthur Coal Annual Report 2010" (PDF). Macarthur Coal. Retrieved 12 June 2011.
  2. ↑ Elisabeth Behrmann (20 June 2010). "Macarthur Coal Founder Talbot, Sundance Resources CEO Missing in Cameroon". Bloomberg L.P. Retrieved 26 June 2010.
  3. 1 2 Andrew Fraser (17 May 2011). "Codrilla gets go-ahead from Macarthur Coal". The Australia. News Limited. Retrieved 12 June 2011.
  4. ↑ "Macarthur Coal lifts profit guidance". Brisbane Times. Fairfax Media. 4 May 2011. Retrieved 12 June 2011.
  5. ↑ "Australia's Macarthur increases coal reserves by 38 pct". Thomson Reuters. 10 May 2011. Retrieved 12 June 2011.
  6. ↑ http://phx.corporate-ir.net/phoenix.zhtml?c=129849&p=irol-newsArticle&ID=1641313&highlight=
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.