A troubled NSW coal mine has plunged into receivership and administration just months after it reopened following years of disuse.
Dartbrook Mine, an underground thermal coal joint venture in the Hunter Valley, had sat empty since 2006 until it was revived at the end of last year.
Its owner, ASX-listed Australian Pacific Coal, last month failed to meet its obligations for a $174 million loan to key backer Vitol, a Singapore-based commodities giant.
Australian Pacific Coal has now called in administrators from Deloitte and requested an “immediate” trading suspension on the stock market.
Vitol has since appointed receivers, insolvency firm FTI Consulting, to claw back its millions.
The mine had clocked up losses of $47 million and made less…