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AUSTRALIA'S MACARTHUR COAL HOPING TO BECOME THREE MINE COMPANY.
BRISBANE, Aug 1 Asia Pulse - Junior miner Macarthur Coal Ltd (ASX:MCC) is hoping to become a three mine company before long.
Managing director Ken Talbot said last night that growth for Macarthur - which is currently mining its 50 per cent owned Coppabella pit in Queensland - depends on its markets, projects, people, risk profile and financial capacity.
Macarthur boasts fundamentally strong resources, with open cut projects with competitive stripping ratios that were close to infrastructure.
"We have a clean sheet of paper, no history of management and work practices," Mr Talbot told an Australian Institute of Company Directors meeting in Brisbane tonight.
"We are well positioned as a public company to create additional wealth through growth, like Flight Centre and Collection House," he said.
The Brisbane-based Macarthur is committed to kick-starting production at Moorvale, a low risk, open cut mine located near Coppabella, initially set to produce at 1.6 million tonnes per annum (mtpa).
Subject to mining lease approval, ...
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