Industry Mining Products Coking coal Headquarters Australia Founded 1995 | Area served Worldwide Net income A$125.1 million (2010) Parent organization PEAMCoal Pty Ltd | |
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Key people Nicole HollowsChief Executive officer and Managing DirectorKieth De LacyChairman Subsidiaries Custom Mining Dingo Pty Ltd, Bistrotel Pty Ltd | ||
Macarthur coal accepts revised mining tax
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.
Contents
- Macarthur coal accepts revised mining tax
- Macarthur coal profit soars on record prices
- Assets
- History
- References
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.
Macarthur coal profit soars on record prices
Assets
The company maintained a 73.3% ownership in all its major mine projects. 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.
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.
In May 2011, the company announced that it had increased coal reserves estimates by 38% to 2.26 billion tonnes.
The company was acquired by US company Peabody Energy in late 2011.