Peabody Energy completes acquisition of Macarthur Coal
- Publishing Date
- 22 Dec 2011 11:18am GMT
- Author
- Mining Magazine
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Peabody Energy has announced that it has completed the acquisition of all outstanding shares in Macarthur Coal and holds 100% of the company. Peabody's pro forma Australia sales, including the acquisition volumes, were 29Mt in 2010. Pro forma sales are targeted to grow to 41-45Mt by 2014-15, including 20-23Mt of metallurgical coal.
Gregory H. Boyce, chairman and CEO of Peabody, said: “The Macarthur purchase advances Peabody's strategy of expanding our global platform to serve major global demand centres and raising our contribution from higher-margin international assets. Our focus now is on driving integration and operations improvement and completing expansion projects."
Macarthur has a number of mine development and infrastructure projects under way in addition to its existing Coppabella and Moorvale mines.
Gregory H. Boyce, chairman and CEO of Peabody, said: “The Macarthur purchase advances Peabody's strategy of expanding our global platform to serve major global demand centres and raising our contribution from higher-margin international assets. Our focus now is on driving integration and operations improvement and completing expansion projects."
Macarthur has a number of mine development and infrastructure projects under way in addition to its existing Coppabella and Moorvale mines.
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