Dartbrook JV upsizes debt facility to boost working capital
The joint venture (JV) behind the Dartbrook coal mine in New South Wales has increased its senior secured debt facility to provide additional working capital ahead of a planned ramp-up in washed coal sales.
The Dartbrook JV, comprising Australian Pacific Coal and Tetra Resources, has amended its financing agreement with Vitol Asia, increasing the facility by $4.2-million to $112.8-million, up from $108.6-million previously.
"The updated facilities provide additional working capital to cover short-term funding needs of the Dartbrook project, in anticipation of a ramp-up in washed coal sales," the company said in a statement. "The terms of the facility are consistent with the previous senior refinancing."
Located in the Hunter Valley, about 10 km north-west of Muswellbrook, Dartbrook resumed underground operations in 2024 after a restart capital programme. The mine has a history of producing high-quality, high-energy, low-sulphur thermal coal.
Australian Pacific Coal holds an 80% direct interest and a 70% economic interest in the JV via subsidiaries, with Tetra Resources holding the remaining 20%.
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