One of Australia’s most infamous coal barons, Nathan Tinkler, could be facing a new hurdle in his bid to make it big again in the beleaguered industry.
In order to secure the mining right for Dartbrook, Tinkler, the company’s managing director, would need to pass a number of “fit and proper person” guidelines
As revealed by Street Talk in December, Tinkler’s latest venture Australian Pacific Coal has struck a deal to buy the Dartbrook open-cut coal mine in the Hunter Valley from troubled mining giant Anglo American for $50 million, including a cash payment of $25 million by January 31. Tinkler plans to raise up to $30 million to help fund the venture.
But the fallen businessman’s past could come back to haunt him under guidelines …
Read the full article at: http://www.singletonargus.com.au/story/3658104/tinkler-deal-may-hit-roadblock-as-atlas-woos-lenders/
