Arch Coal says Indonesia is top priority to expand business in Asia Pacific
Friday, May 13 2011 - 07:15 AM WIB
Newly appointed president of Arch Coal Asia-Pacific Pte. Ltd, Renato Paladino told Petromindo.Com during Coaltrans conference in Singapore that Indonesia is a top priority for Arch Coal to expand their business. ?We will have a lot of work in Indonesia,? he said without giving further details.
On Monday, Arch Coal, Inc. announced the new subsidiary, and named Renato Paladino as a president.
"Countries in the Asia-Pacific region are leading a coal market supercycle," said Steven F. Leer, Arch's chairman and chief executive officer. "With an expanded presence in the Asia-Pacific region, Arch Coal expects to extend its reach and seize new market opportunities as developing countries demand more and more energy, "said Steven F. Leer, Arch's chairman and chief executive officer.
Paladino will be responsible for Asia-Pacific regional business development, marketing and sales of thermal and metallurgical products, and regional supply chain expansion for the company. The new office will be located in Singapore . Paladino will report to Arch's president and chief operating officer, John W. Eaves.
"Renato brings a proven track record and an advantageous blend of marketing, technical and business development skills to Arch's global sales efforts," said Eaves. "We look forward to Renato's leadership as we expand our participation in the high-growth Asia-Pacific market."
Most recently, Paladino served as chief marketing officer of Hancock Prospecting Pty, Ltd. in Brisbane , Australia , where he had ultimate responsibility for marketing coal and iron ore. Prior to joining Hancock, Paladino worked for Brazilian minerals company Vale between 1985 and 2009, serving most recently as global managing director of coal. During his 24-year tenure with Vale, he held various business positions in Brisbane , Shanghai , Brussels , Rio de Janeiro and Tokyo .
In December 2010, Arch Coal Inc.?s VP-analysis & strategy, Lawrence Metzroth told Petromindo.Com that the company is eyeing coal mining acquisition overseas including in Indonesia. The company is interested to acquire mines which are capable to produce at least 5 million tons per annum of high calorie coal. ?So far, we don?t have any contact or conversation with coal miners in Indonesia yet,? he said on December 02, 2010 , adding that the company preferred to acquire coal mine in Kalimantan rather than Sumatra .
Arch Coal is the second largest U.S. coal producer. In total, Arch contribute about 16% of America?s coal supply from our 11 mining complexes in Wyoming, Utah, Colorado, West Virginia , Kentucky , and Virginia . With 126 million tons of coal sales in 2009, we provided U.S. utilities with the fuel for roughly 8% of the nation?s electricity.
Arch has a reserve base totaling 4.7 billion tonnes. (denny)