News: Macarthur warns of wet weather impact

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Macarthur Coal Ltd (ASX:MCC) has advised that significant rainfall in March has delayed returning to full production and a force majeure is now likely to remain in place until the end of April, 2011.

While the coal miner has maintained its full-year sales target of between 4.1 to 4.3 million tonnes, it cautions that this is now subject to any further wet weather interruptions.

Macarthur says the 2012 sales target of 5 million tonnes is achievable but is expected to be at an increased cost given the impact of wet weather conditions. 

Macarthur will provide full year net profit guidance upon the resumption of ordinary operations. 

In the first half of its 2011 financial year Macarthur Coal posted a net profit of $141 million.