Macarthur Coal History

Last updated 11 November 2008

1995	October	Macarthur Coal Pty Ltd incorporated
1996	December	Ken Talbot and AMCI farm into tenement EPC531
1997	April	10m thick coal seam now called Macarthur Seam discovered 100m deep at Coppabella project
1997	September	CITIC joined Coppabella Joint Venture
1997	September	Feasibility study completed for Coppabella Mine for 3Mtpa
1997	October	Mining Lease Application (MLA) and Environmental Management Strategy lodged with Department of Mines and Energy
1997	October	Coppabella Joint Venture (JV) formed
1997	November	Letter of Intent (L.O.I.) provided by JFE Shoji Trade Corporation
1998	May	Native Title Agreement executed at Coppabella project
1998	June	Coppabella Mining Lease granted
1998	July	Japanese participants joined Coppabella Joint Venture
1998	July	Mining operations commenced at Coppabella Mine
1998	1st October	First coal mined at Coppabella
1998	6th November	First shipment of 18,293 tonnes of coal to Nippon Steel
1999	March	Mine infrastructure completed at Coppabella Mine
1999	Financial year	Total production 500,000 tonnes
2001	February	Macarthur Coal Limited incorporated
2001	May	Board of Directors appointed in preparation of an I.P.O.
2001	1st July	Macarthur Coal undertook an I.P.O. to retire debt and provide for future growth at $128 million market capitalisation
2002	December	Moorvale Mining Lease granted and mining operations commenced
2002	December	Convertible note raising of $30 million (A$1.45 at 10% coupon)
2003	January	Dragline production commenced at Coppabella Mine
2003	March	First coal mined from Moorvale
2003	December	Moorvale Mine infrastructure completed
2003	December	Macarthur Coal purchased a further 23.3% interest in Coppabella Mine
2003	11th December	Coppabella and Moorvale JVs unified
2004	March	$31 million Rights Issue
2005	March	Milestone - 30 million tonnes of ROM coal production from Coppabella Mine to date
2005	December	All bank debts and convertible notes repaid in full
2006	June	Record NPAT of $149.6 million
2006	Financial Year	Total production 7,000,000 tonnes
2006	1st December	Acquisition of Peter Champion Mining assets
2007	January	Nicole Hollows appointed CEO
2007	October	Upgrade of Moorvale CHPP to 600tph
2007	October	Burdekin pipeline commissioned
2008	January	Acquired 70% interest in Middlemount project
2008	January	4100C electric shovel and truck fleet commissioned
2008	February	Sale of 19.61% of Monto Coal 2 Pty Ltd (10% interest in Monto project to Noble)
2008	June	100% transition to owner operator at Coppabella accomplished