Australian Pacific Coal said on Monday that it has secured a supply contract with a major coal purchaser and is on schedule to reopen a thermal coal mining in the state of New South Wales in the final qtr of the year

The Dartbrook Joint Venture is presently completing financing solutions to meet future restarting capex & working capital needs

Talks with a foreign third party with substantial experience in global coal marketing are currently in the final stages of paperwork and will be linked to a fresh coal advertising & supplies contract

Once completed, this contract and the related financing will significantly reduce project risk and open up funding options.

It would increase both its direct working stake and net economic interest in the operation from 50 percent to 80 percent and 50 percent to 70 percent, respectively.