Macarthur has a pipeline of exploration projects coming onstream that should help double production to 9.2 million tonnes per annum of coal by 2014, regardless of the introduction of the Minerals Resource Rent Tax, De Lacy told the ABC.

"It depends on the price of coal, but it'll go up another one or two per cent we expect on current prices," he said of the effect of the MRRT.

Referring to any further Peabody offer, De Lacy said: “Well, we've got no sign of it and you know there's nothing on the table. When there's something there, well we'll worry about that then.

“But I'm just saying to shareholders, you've got a great exposure to coal – good quality coal – with Macarthur Coal and we think there's a great future.

“We at Macarthur Coal tend to look long-term ourself, and we're very bullish about – not only about the price of coal, but our capacity to increase production.”

De Lacy said Macarthur’s growth strategy would include seeking opportunities to diversify port, climate and coal type to create a “bigger and a stronger company”.

“I can assure you that we're looking at opportunities everywhere. We've got a strong balance sheet and we're a very professional miner,” he said.

“And I mean, when they started with the RSPT, the resources tax, we started to think 'gee, maybe we should be outside Australia as well' and we're not even ruling that out.”

Macarthur, the world’s largest producer of low volatility pulverised injection coal, extended its footprint in Queensland’s Bowen Basin by acquiring the MDL162 tenement for $334.35 million in August.

De Lacy believes BHP Billiton was at odds with both Macarthur and most other mining companies in its support of a carbon tax.

“Most of us can't see why we would have a carbon tax in Australia in advance of the rest of the world,” he said.

“It would just impact on our competitiveness and it would do nothing, absolutely nothing, for emissions, for carbon emissions.

“In fact, there's a good argument to say that it would actually increase global emissions.

“I know everybody feels good about a carbon tax, and I think I would support a carbon tax before the ETS (emissions trading scheme) simply because people can understand it better.

“But let's get the whole of the world working together on this.”