Key transaction features
Australian Pacific Coal Limited entered into various agreements in 2016 for its acquisition of the Dartbrook mine. This acquisition completed on 29 May 2017. The key features of the transaction are:
- Acquisition of 100% of the Dartbrook Joint Venture
- Provision of Environmental Bonds/Financial Assurance
Key investor highlights
- Dartbrook provides a rare entry opportunity into the tightly held Tier 1 thermal coal assets of the Hunter Valley.
- Dartbrook contains a unique geological deposit that is amenable to low impact, large-scale surface mining techniques. This makes the deposit internationally competitive.
- This high quality Newcastle benchmark coal is well placed in the seaborne export market.
- There are no ‘take-or-pay’ rail and port contracts currently in place that require funding during development.
- Existing rail and port services are under-utilised and have sufficient excess capacity to meet the Company’s anticipated rail and port requirements when in production.