Dartbrook Development

LAST night Australian Pacific Coal announced to the share market that it had raised the necessary $25 million cash payment to acquire an 83.33% interest in the Dartbrook mine, outside Aberdeen.

Coal handling at the Dartbrook mine near Aberdeen

Nathan Tinkler was appointed to the board of Australian Pacific Coal as managing director and chief executive officer, following the transaction by Bentley Resources and Trepang Services of $13.2 million.

The new owners intend to seek approval to convert the underground operation into an open cut development producing 5 million tonne per annum for the Asia market.

The company predicts that the project will create 250 local full time positions.

Also joining the board were John Robinson, non-executive director and Shane Cranswick, chief financial officer and company secretary.

Paul Byrne resigned as managing director and remains on the board as an executive director, Paul Ingram retired from the board and Kevin Mischewski resigned as company secretary.

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