Mcarthur Coal plans to meet its revised targets for 2009 despite the ongoing threat from the global financial crisis.
The company released its December quarterly report yesterday which indicated it had sold 2.3 million tonnes in the six months to December 31. The figure was 28.9$% higher than the corresponding period in 2007, but less than expected.
The impact of the global financial crisis has been further reaching than sale targets, under the current market the company has been forced to reduce staffing levels by approximately 180 people across the company, comprising both employees (80) and contractors.
However, Mcarthur’s executive general manager of corporate development Ian McAleese said the company was confident of meeting revised targets for 2009 and selling another 1.6 million tonnes in the six months to June 30.
Mcarthur indicated yesterday that it would meet targets by offsetting waning demand for PCI coal by selling more tonnes into the thermal coal market.