Macarthur coalDespite black eyes from environmentalists, the global market for coal has never been better, with prices for the unique PCI coal mined by Macarthur trading at a narrowing discount to hard coking coal. Macarthur, named after famed US General Douglas Macarthur, was the subject of a three-way bidding war in 2010 and agreed to enter talks with Peabody, the highest bidder with about $17 offer. However, talks collapsed after Peabody cut its offer when the centre-left Labor government slapped coal and iron ore miners with a mining tax. Steel giant ArcelorMittal is the second largest shareholder with a 16.2 percent stake in Macarthur, according to its website. Citic Resources, Macarthur’s biggest shareholder, said it would study the offer. The proposal was conditional on receiving regulato
No comments:
Post a Comment