Macarthur Coal
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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.[1]
On November 16, 2011, Peabody Energy acquired more than 90 percent of Macarthur Coal.[2]
Contents
Takeover by Peabody Energy
In June 2011, Peabody Energy and ArcelorMittal made an indicative offer to takeover Macarthur Coal.[3][4] Peabody stated that it had engaged UBS and Bank of America Merrill Lynch as its financial advisers.[5] 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.[6]
In late-August 2011, Peabody Energy and ArcelorMittal purchased Macarthur Coal for $5.2 billion.[7] 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.[8] On November 16, 2011, Peabody Energy acquired more than 90 percent of Macarthur Coal.[9]
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."[10]
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.[11]
Other possible future projects
Other coal projects under considerations include:[12]
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/
Articles and resources
References
- ↑ Macarthur Coal, "Macarthur Coal Profit Guidance in the range of $185 to $205 million for the 2011 financial year", Media Release, May 4, 2011.
- ↑ Mark Scott, "Peabody Energy Wins Full Control of Macarthur Coal" NY Times, Nov. 16, 2011.
- ↑ Peabody, "Peabody Energy and ArcelorMittal to Proceed With Macarthur Coal Due Diligence", Media Release, July 14, 2011.
- ↑ Macarthur Coal, "Macarthur, Peabody and ArcelorMittal agree basis for Due Diligence", Media Release, July 14, 2011.
- ↑ Peabody Energy, "Peabody Energy and ArcelorMittal SA Submit Proposal to Acquire Macarthur Coal", Media Release, July 11, 2011.
- ↑ "Macarthur Bows to Raised Peabody and Arcelor Bid" Bettina Wessener, New York Times, August 30, 2011.
- ↑ "Macarthur Bows to Raised Peabody and Arcelor Bid" Bettina Wessener, New York Times, August 30, 2011.
- ↑ "Peabody Energy, ArcelorMittal acquire coal company" Sacramento Bee, Oct. 24, 2011.
- ↑ Mark Scott, "Peabody Energy Wins Full Control of Macarthur Coal" NY Times, Nov. 16, 2011.
- ↑ Macarthur Coal, "Operations", Macarthur Coal website, accessed August 2010.
- ↑ Macarthur Coal, "Macarthur Coal Announces Fourth Mine Selection and Selldown to the Coppabella Moorvale Joint Venture - Full Year Profit Guidance Upgrade", Media Release, May 16, 2011.
- ↑ Australian Bureau of Agricultural and Resource Economics, "Minerals and energy: Major development projects", April 2010. (Pdf).
