Robinson to complete Dartbrook acquisition

AUSTRALIAN Pacific Coal has confirmed that John Robinson Jnr will replace Nathan Tinkler as the company’s CEO and will complete the acquisition of the Dartbrook underground coal mine in New South Wales.

Lou Caruana

Robinson, previously an executive director of the company, has been appointed to the role following an assessment of internal and external candidates.

The board concluded that Robinson’s performance managing the multiple interests of the company as executive director demonstrated that he is the best candidate for the role.

“The company is on track for completion of its acquisition of the Dartbrook project and is actively managing the transition process,” the company said in a statement.

“Mr Robinson has brought a strong focus on corporate strategy with delivered outcomes to the company.”

Nathan Tinkler was forced to relinquish his position over bankruptcy charges.

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 last month, despite widespread skepticism that he would be able to obtain funding for the project.

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.”