PCI producer Macarthur revises fiscal year sales target due to Queensland rains

Queensland, Australia-based seaborne low volatile pulverized coal injection (PCI) producer Macarthur Coal Limited has announced a reduction in its 2011 financial year (ending on June 30) sales production target as a result of extended unseasonal rainfall impacting on production.
 
The company's saleable production target, which was previously five million mt,  has been decreased to the range of 4.1-4.3 million mt.
 
Macarthur recalled that the unseasonal wet weather that impacted production had necessitated the declaration of force majeure on December 3, 2010.
 
Recovery continues, though a return to full production levels has been hampered by additional rainfall received from cyclones Anthony and Yasi.
 
Macarthur Coal CEO Nicole Hollows said, "Our operations at both Coppabella and Moorvale have been disrupted by unseasonal heavy rains over the past three months; continuation of excessive wet weather has caused further delays to production through to February. Although we are anticipating more rainfall, should it remain at historical averages, we are confident of progressively returning to normal production over the next few weeks."