The company will save some money with Tinkler out of the job as Robinson is only being paid $200,000 compared to Tinkler’s $500 000.

AusPac said it is continuing to progress its search for a replacement CEO.

While in the CEO seat, Tinkler made a number of steps forward for AusPac, announcing plans to buy a majority stake in Anglo American’s Dartbook mine in New South Wales.

He also secured a $20 million convertible loan was sealed earlier this month, despite widespread skepticism that he would be able to obtain funding for the project.

Tinkler has indicated he will appeal the bankruptcy judgement, which centres on a dispute over the sale of his private jet.

The troubled Dartbrook, which has been in care and maintenance since 2006, will be converted from an underground thermal coal mine to an open cut mine in the Hunter Valley, according to AusPac.

“The open cut operations will target a minimum 20-year mine life, subject to relevant approvals, and is expected to be favourably considered due to the approvals of adjacent existing open cut mines, with the co-existence of mining and agriculture,” it said.

“The acquisition includes significant land ownership comprising the majority of the open cut potential.”