Final Steps of Dartbrook Acquisition

YESTERDAY Australian Pacific Coal announced the final stage of their acquisition of the Dartbrook mine, after lodging formal documentation to acquire Marubeni Coal’s 16.67 percent interest share in the operation.

Australian Pacific Coal envisages the sale of both Anglo American and Marubeni’s interest in Dartbrook, totalling 100 percent, will complete simultaneously.

The finalisation is subject to several conditions including:

• Marubeni releasing Anglo from any further liability relating to Dartbrook;
• NSW government approval of the tenement change;
• Australian Pacific Coal providing evidence to Anglo and Marubeni that it can replace financial assurances of approximately $9.2 million, and
• approval by the Foreign Investment Review board relating to the Marubeni acquisition.

Read the full release to the market: Australian Pacific Coal release, June 7, 2016.