Whitesburg KY

Firm acquires coal properties

SYDNEY, Australia

International steelmaking giant ArcelorMittal announced this week it is buying Mid Vol Coal Group, which owns approximately 85 million tons of reserves in Central Appalachia. Mid Vol produced 1.5 million tons of coal from West Virginia and Virginia mines last year.

Meanwhile, ArcelorMittal’s negotiations with Australian coal mine operator Macarthur Coal have ended without a deal.

ArcelorMittal was widely believed to be considering a takeover of Macarthur. But Macarthur told the Australian Securities Exchange on Tuesday discussions ended without a proposal.

Trading of Macarthur stock was halted earlier this week pending a statement about the talks.

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