Macarthur eyes overseas ventures

THE new face of Macarthur Coal, CEO Nicole Hollows, told media this week that acquisition opportunities in both Mozambique and Mongolia had been considered, and that any coal ventures that came across the table would be considered.

Staff Reporter

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.

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