Presenting the company’s dismal first-half results Wednesday, Hollows said Mozambique and Mongolia have rich coal resources and that Macarthur has been seeking possible acquisitions in both areas.

“If something comes along that looks good, we'll look at it," Hollows said.

But she also maintained that Macarthur was taking a “back to basics” approach to business and would focus exclusively on coal, as opposed to looking at growth in other areas.

“Our focus is still on our project pipeline," she said.

Macarthur’s 2007 first-half net profit fell to $42.4 million, from $82.1 million in the previous corresponding period.