Macarthur Coal

Macarthur Coal is an Australian coal company which owns and operates three mines in Queensland's Bowen Basin. The combined output of the three mines -- which has been affected of the extensive flooding in Queensland in late 2010 and early 2011 -- is likely to be between 3.8 million tonnes and 4.1 million tonnes in 2010/2011. The company states that it's goal is to double its production to 9.2 million tonnes a year by 2014.

On November 16, 2011, Peabody Energy acquired more than 90 percent of Macarthur Coal.

Takeover by Peabody Energy
In June 2011, Peabody Energy and ArcelorMittal made an indicative offer to takeover Macarthur Coal. Peabody stated that it had engaged UBS and Bank of America Merrill Lynch as its financial advisers. Macarthur is a producer of pulverized coal that is sought after by steel makers, and was one of the few remaining independent midsize miners in Australia.

In late-August 2011, Peabody Energy and ArcelorMittal purchased Macarthur Coal for $5.2 billion. PEAMCoal Pty Ltd, the holding company now controlling 59.85 percent of the Macarthur shares, is 60 percent owned by Peabody and 40 percent owned by ArcelorMittal. On November 16, 2011, Peabody Energy acquired more than 90 percent of Macarthur Coal.

Existing coal mines
The company owns majority interests in the:
 * Coppabella mine;
 * Moorvale mine; and the
 * Middlemount mine.

Proposed new coal mines
On its website the company states that, as of late 2008, it exports 4.5 Mt of coal per year and "this will double by 2011 as the extensions to are completed."

In mid-May 2011 the company announced that it had decided to proceed with the development of the Codrilla Mine Project, a proposed 3.2 million tonne per annum project producing pulverised coal injection coal through the Dalrymple Bay Coal Terminal.

Other possible future projects
Other coal projects under considerations include:
 * Monto coal mine
 * Olive Downs North mine
 * Vermont East coal project
 * Wilunga coal project

Contact details
Macarthur Coal Limited 100 Melbourne St South Brisbane QLD 4101 GPO Box 1025 Brisbane QLD  4001 Telephone: (07) 3221 7210 Fax: (07) 3229 1776 Email: info AT macarthurcoal.com.au Website: http://www.macarthurcoal.com.au/

Related SourceWatch articles

 * Australia and coal
 * New South Wales and coal