APC to acquire 100% interest in Dartbrook JV

After acquiring an 83.33% stake in the New South Wales-based Dartbrook joint venture (JV) in December last year from diversified miner Anglo American, and in April securing A$5-million in funding from cornerstone investor Trepang Services for the remaining 16.67% interest from Marubeni Coal, ASX-listed junior Australia Pacific Coal (APC) on Wednesday announced that it was officially moving ahead to acquire a 100% interest in the project. Under the initial JV agreement between Anglo and Marubeni, Marubeni had the right to ‘tag’ and sell its interest to APC, and Marubeni had now decided to exercise its tag-along right for the sale of its interest in Dartbrook.