The Consortium successfully acquired the business and assets of Tahmoor Coal Pty Ltd and Bargo Collieries Pty Ltd (each in liquidation) through a competitive sale process conducted by the liquidators. GEAR holds a 70% interest in Tahmoor, with M Resources holding the remaining 30%.
The acquisition marks a significant milestone in the planned restart of one of New South Wales' longest-running metallurgical coal operations. It represents a major investment in the Illawarra region, providing greater certainty for the local workforce and supporting the future supply of metallurgical coal for Australian steelmaking. With the transaction now complete, the Consortium is progressing work towards restarting longwall operations later this year. At full production, Tahmoor is expected to produce up to 2 million tonnes of metallurgical coal annually, with its workforce expected to grow to more than 580 people as operations ramp up.
G+T advised the Consortium on all legal aspects of the transaction from signing through to completion, including obtaining the necessary regulatory approvals. The transaction involved navigating a complex sale process and coordinating multiple stakeholder and regulatory requirements to achieve successful completion. G+T worked closely with Grant Samuel, the Consortium's corporate adviser, throughout the transaction.
The transaction drew on G+T's energy and resources, competition and restructuring expertise. The G+T team was led by partners Mark McAleer, Peter Bowden, Anna Schwartz and Jeremy Jose, supported by Lewis Pope, Maria Bletsas, Sophia Azzopardi and Nicholas McNaughton.
Partners Peter Bowden, Anna Schwartz and Mark McAleer commented:
We are delighted to have supported GEAR and M Resources on this significant acquisition. The transaction required careful navigation of a complex sale process, regulatory approvals and multiple stakeholder interests, drawing on expertise across our energy and resources, competition and restructuring teams. Its completion is an important milestone for Tahmoor and the Consortium's plans to restart operations, supporting the future of an established mining operation and the broader Illawarra region.
