(EnergyAsia, December 31 2011, Friday) — US-based Peabody Energy said it has completed the acquisition of all outstanding shares in Macarthur Coal Limited and will now delist the company from the Australian Securities Exchange.
Peabody said its pro forma Australia sales including the acquisition volumes were 32 million tons in 2010. It plans to raise those volumes to 45 to 50 million tons by 2015, including 22 to 25 million tons of metallurgical coal that will position Peabody Energy among the top tier of global met coal producers.
Peabody chairman and CEO Gregory H. Boyce 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.