Mining Magnate Steps Down
Australian mining magnate Ken Talbot has announced he will no longer head Macarthur Coal following a ministerial loans scandal.
Mr Talbot, who is due to appear in Brisbane Magistrates Court in Queensland on Monday, July 1, is accused of paying Queensland Health Minister Gordon Nuttall payments totalling $300,000 between October 2002 and September 2005.
In a statement, Macarthur Coal says Mr Talbot, who is “held in high regard” by the mining industry, will remain a non-executive director of Macarthur Coal.
Both men claim they are innocent.
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