Gilbert + Tobin has advised a consortium comprising Golden Energy and Resources Pte Ltd and M Resources Pty Ltd on its acquisition of the coal business and assets of Tahmoor Coal Pty Ltd and Bargo Collieries Pty Ltd, each in liquidation, from their Liquidators.
The transaction is a major step towards the restart of Tahmoor’s mining operations and provides a pathway for long-term stability for an important Illawarra coal asset. Tahmoor has a long operating history in New South Wales and is a significant employer and contributor to the local resources sector.
The Consortium is strongly positioned to take Tahmoor forward, with an established regional presence through its involvement in the Illawarra Met Coal complex operated by GM3, which owns the nearby Appin and Dendrobium mining operations. Through this existing presence, the Consortium has longstanding relationships with the local workforce, contractors and surrounding communities as it progresses to a responsible restart.
G+T advised on all legal aspects of the transaction, including sale documentation, transaction structuring, due diligence and regulatory approvals. The transaction followed a structured and competitive sale process undertaken by the Liquidators and required careful management of stakeholder, operational and regulatory issues. G+T worked closely with Grant Samuel, the Consortium’s financial adviser.
The team was led by partners Mark McAleer and Peter Bowden, with support from a core team of lawyers, including partners Anna Schwartz and Jeremy Jose and lawyers Lewis Pope, Sophia Azzopardi and Nicholas McNaughton.
Mark McAleer commented:
We are delighted to have been able to support GEAR, M Resources and Grant Samuel on this strategic acquisition in the mining sector. The Consortium brings deep industry experience, an existing regional presence and a clear focus on safe and responsible operations. We look forward to working with the Consortium to move forward to completion and the restart of mining operations at Tahmoor.
Peter Bowden commented:
This transaction required careful navigation of a competitive sale process and a multi-stakeholder approvals pathway. Distressed asset transactions of this nature require disciplined execution, clear structuring and close coordination between advisers, liquidators, regulators and key stakeholders. It was a privilege to work with GEAR, M Resources and Grant Samuel on a transaction that provides a positive pathway forward for Tahmoor.
