INTERNATIONAL COAL NEWS

Macarthur guidance halved

QUEENSLAND coal miner Macarthur Coal expects profits in the range of $A12 - 18 million for the fi...

Staff Reporter

Announcing the figures, Macarthur said that while the company posted a profit of $42.2 million for the first half of the 2007 calendar year, the short-term future outlook is not as promising after ongoing constraints in the Goonyella coal chain and high demurrage levels.

However, it is confident that the situation will improve once infrastructure projects, including the expansion of the Dalrymple Bay Coal Terminal, are completed.

Macarthur's allocation will double to 8.8 million tonnes per annum once the expansion is completed in 2010.

Company CEO and managing director Nicole Hollows said Macarthur's two mines - Coppabella and Moorvale - performed well but restricted port access and chain supply issues put future sales volumes in jeopardy.

Hollows added that if rail and port tonnages became available the company could immediately capitalise from its large stocks of ROM and product coal ready for processing and shipping.

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