Australian Pacific Coal completed the 100% acquisition of the Dartbrook mine in May 2017.
27 September 2022 - Australian Pacific Coal Limited (AQC) entered into a binding agreement with Trepang, Tetra and M Resources in relation to a joint venture to see Dartbrook re-commissioned as a coal-producing underground mine.
On May 1, 2023, the binding term sheet announced in September 2022 has been renegotiated. The key terms of the restructured JV are:
- AQC retains the majority direct working interest which has increased from 50% to 80%.
- Tetra remains a direct JV participant with a 20% working interest and remains the mine Manager and Operator.
- Trepang will no longer have a direct working interest in the JV.
- M Resources will receive a 10% indirect economic interest in the JV through AQC.
AQC holds an 80% joint venture interest (70% economic interest) in the Dartbrook thermal coal project.