Macarthur Coal Ltd., supplier of 35 percent of global export demand for pulverized coal, said China's Citic Resources Holdings Ltd. had received Australian regulatory approval to increase its stake over 20 percent.

Citic has boosted its stake from 17.66 percent to 20.39 percent, Brisbane-based Macarthur said today in a statement to the Australian stock exchange. Citic has received approval from the Australian Securities and Investments Commission and the Foreign Investment Review Board, it said.