Macarthur Coal Third Quarter Coal Sales Fall 61% After Rains
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Macarthur Coal Ltd., the world’s biggest producer of pulverized coal used to make steel, said third-quarter sales fell 61 percent after rains curbed output at its mines in Australia’s Bowen Basin.
Total sales dropped to 476,300 metric tons in the quarter ended March 31, compared with 1.23 million a year earlier, Brisbane-based Macarthur said today in a statement. That compares with an estimate of 600,000 tons from UBS AG.