Macarthur Coal's Yeerun coal deposit study may help in takeover talks

Macarthur Coal said todayvarious types of mining equipment for chrome and gold an early estimate of its Yeerun coal deposit in Queensland showed it contained 66 million tonnes of coking coal.

The study may strengthen Macarthur's hand as it negotiates with Peabody Energy and ArcelorMittal over the terms and value of their joint $4.7 billion takeover offer.

The deposit, owned 85 per cent by Macarthur and 15 per cent by China's Citic Resources Holdings, is located adjacent to the Codrilla coal deposit that Macarthur recently designated its fourth mine.

Mineral resources describe total quantity of minerals in the ground rather than the amount that can be extracted economically. Inferred resources are the least accurate measure.