The controversial Dartbrook coal mine reopened less than a year ago, but it appears to already be no more.
Australia Pacific Coal (AQC) suspended trading on the Australian Stock Exchange on Tuesday and we understand an announcement has been made that the joint venture site will be put into care and maintenance.
Muswellbrook Shire Mayor Jeff Drayton said it’s an insane decision.
“You would think the best way to sell a mine and try and recoup their money, which is what they told us they wanted to do, would not be to do this.
“We’re hearing that they started to remove equipment from the mine this morning. It’s insane.
“The local contract companies that are owed hundreds of thousands of dollars each, more than $6 million total, they are all confused and if they weren’t concerned enough before they certainly are now about whether there is any prospect of them getting any money back at all,” said Mayor Drayton.
A spokesperson for FTI Consulting said the receivers and managers are proposing to suspend underground mining operations.
“Following an operational review, the Receivers and Managers of Dartbrook Coal Mine are proposing to suspend underground mining operations. Operations at the coal handling and preparation plant remain unaffected.
“The Receivers have been provided funding to ensure employee entitlements for any affected employees can be met in full, and a period of consultation with the workforce is underway.”
The Hunter River Times has reached out to Dartbrook board for comment.
More to come.
