Macarthur Coal Limited (the Company) is a public company that listed on the Australian Stock Exchange (ASX) in July 2001.
Macarthur Coal is based in Queensland with mining assets in the Bowen Basin and a corporate office located in the state’s capital, Brisbane.
Macarthur Coal’s principal product is low volatile pulverised coal injection (LV PCI) coal used in the production of steel. This product is mined at the Coppabella and Moorvale mines. Macarthur Coal is the world’s largest supplier of seaborne LV PCI coal to steel mills in Asia, Europe and Brazil. The Company also produces thermal and coking coal.
Macarthur Coal provides the expertise to manage the mines and an exploration programme on behalf of a number of joint venture participants. Macarthur Coal manages all mining operations at Coppabella Mine. Contractors are engaged to undertake mining operations at Moorvale Mine.
Macarthur Coal’s major assets are a 73.3% share in Coppabella Mine and Moorvale Mine through the Coppabella and Moorvale Joint Venture (CMJV) which together provide approximately one third of the total volume of low volatile PCI coal exported from Australia. Macarthur Coal also has a 50% share of the Middlemount Mine project.
Macarthur Coal’s mines and exploration tenements (excluding the Middlemount Mine project) are held within unincorporated joint ventures. This structure has allowed the Company to gain significant strategic benefits by involving other parties in its projects. The Company’s production joint venture participants are CITIC Resources Australia Pty Ltd, Marubeni Corporation, Sojitz Corporation, JFE Shoji Trade Corporation and NS Trading Co Ltd.
The Middlemount Mine project is an incorporated joint venture with Paway Ltd (part of the Noble Group Ltd). Paway Ltd holds the remaining 27.52% of the Middlemount Mine project.