Latest news with #New South Wales
ABC News
20 hours ago
- Business
- ABC News
Dartbrook Hunter Valley coal mine cuts workforce as debt snowballs
A New South Wales coal mine on the brink of collapse has terminated more than half its staff while its debts appear to have soared to more than $800 million. Dartbrook Mine, an underground thermal coal joint-venture by Australian Pacific Coal and Tetra Resources, had sat empty for 19 years until it was revived at the end of 2024. But the Hunter Valley mine went into external administration and receivership earlier this month, after failing to meet its obligations for a $174 million loan to Singaporean commodities giant Vitol. The receivers, who are operating the mine, terminated more than 100 miners or more than two-thirds of Dartbrook's workforce, on Monday. Do you know more about this or have a similar story? Email FTI Consulting, the firm acting as the receiver that is operating the site, said in a statement making the mass terminations "wasn't an easy decision" but it was "necessary for Dartbrook's long-term future". Previously, FTI Consulting said it had been appointed as receivers to support the "long-term future" of the Dartbrook coal mine. "We intend to continue operations onsite and work with relevant stakeholders while an urgent assessment of options is undertaken," receiver Ben Campbell said previously in the statement. Mining and Energy Union (MEU) president Robin Williams said the mass terminations were "disgraceful". "Over the weekend, operations were wound down while workers were left in the dark, waiting to hear if they would be required," he said. "Many of them have now been unceremoniously notified by email that they no longer have a job. "It's hurting families and the local community." Mr Williams said that while employees had been cut, labour hire contractors at the site had been kept on and claimed that the decision was made without proper consultation with workers, breaching the enterprise agreement. The MEU said it would fight for workers and has already filed a case with the Fair Work Commission. It comes as Dartbrook's debt and number of creditors continue to climb. Minutes from a creditor's meeting held earlier this month showed that at least 51 companies claimed they were owed money. The total debts exceed $820 million, not including its $174 million loan to Vitol. The largest creditor was UK-based non-bank loan agency, Global Loan Agency Services (GLAS), which claimed it was owed more than $800 million. The ABC understands that they have claimed $202 million from four different entities. The ABC has contacted GLAS for comment. Administrators from Deloitte were appointed to another entity, Tetra Dartbrook, at the end of last week. The Deloitte administrators have applied for a six-month extension to push back the next time creditors will meet until February next year. The matter is being heard at the Federal Court on Wednesday. Deloitte was already acting as the administrator of several entities relating to Tetra Resources, while insolvency firm McGrath Nicol is administering entities involved with Australian Pacific Coal. Local businesses owed money have voiced their concerns about those debts ever being paid, especially in the wake of the job cuts. Hunter Valley business EMF Group is subcontracted to work at Dartbrook's coal washery and is owed $282,000. Director Jason Anderson said after hearing news of the mass redundancies, it was "not looking good". Jim Eastley, a Hunter Valley local, said his business, CE Mining, was owed more than $500,000. "It's pretty tough to swallow," Mr Eastley previously said. "We're hoping that things can turn around and the mine will become productive … but that's a long way off at the moment." Muswellbrook Shire Mayor Jeff Drayton previously said the debts Dartbrook owed local businesses were "enough that it might be enough to break some of these smaller companies". He said half a dozen local businesses with debts exceeding $3 million between them had contacted him. Cr Drayton said Dartbrook also owed the Muswellbrook Shire Council unpaid rates.
News.com.au
21 hours ago
- Sport
- News.com.au
Godolphin kicks off new training era with trial victories for Michael Freedman
Godolphin's life after James Cummings got off to a winning start at the Rosehill Gardens barrier trials on Tuesday morning. Randwick trainer Michael Freedman won two trials for the blue army with new additions to his yard – Polyglot and Ohope. 'They have a depth of a lot of nice horses, and these are the first couple they sent to me in the changeover,' Freedman said. 'Polyglot has pretty good, exposed form. They haven't rushed him, he's been given all the time in the world so hopefully we'll be the beneficiary of that. 'He seems to have come back in nice order and is ready to go in the next couple of weeks. 'I spoke to James about Ohope the other week and he said he's always given a good impression, just taken a bit of time. 'He still did a few little things wrong today, but he has his share of ability.' Chris Waller also trialled a couple of his Godolphin recruits with quality mare Commemorative producing an eye-catching third while her stablemate Burma Star also rounded out the placings in his trial. 1⃣ Spring Lee 2⃣ General Salute 3⃣ Commemorative An all the way win for the @BBakerRacing mare in a 900m trial at Rosehill on Tuesday. Also trialling were Anisette, Gatsby's and Powers Of Opal. @tabcomau — Racing NSW (@racing_nsw) July 28, 2025 Meanwhile, Freedman revealed Golden Slipper winner Marhoona was likely to bypass the Silver Shadow Stakes in August with the trainer leaning to the Group 2 Furious Stakes (1200m) at Royal Randwick on September 9 a likely starting point. 'She's coming along slowly,' he said. 'I'll probably let the Silver Shadow go being set weights and penalties. 'Being a Group 1 winner, she would get a three-kilo penalty in that so I think we will wait and kick her off in the Furious at set weights. 'She's grown, strengthened and seems good. 'She'll either have her first trial next Tuesday at Randwick or there are sets at Warwick Farm and Rosehill the Friday and Monday after that. We've got a bit of time so we're not in a rush.' • Richard Callander: Can we please now step up instead of tear down? Sydney's first Stakes race of the new season is the Group 2 Missile Stakes (1200m) at Royal Randwick on August 9 and an emphatic trial win on Tuesday has Bjorn Baker giving thought to an ambitious first-up assault with his progressive mare Perfumist. The rising four-year-old was trialling for the second time and she never gave her opposition a look in, leading throughout to score by 9-1/4 lengths from her Sydney Cup -winning stablemate Arapaho and The Metropolitan winner Land Legend in a 1000m course proper trial. 'I know they were stayers behind her but she looked pretty good to the eye,' Baker said. 'My original plan was to kick her off in a Benchmark 88 over 1200m on August 16 but more and more I'm thinking about giving her a shot in the Missile seven days prior. 'She's a mare without black-type, it's a Group 2 and it might be worth having a throw at the stumps being so early in the season.' "This is going to be an exhibition." Easy work for @BBakerRacing mare Perfumist as she wins a 1000m Rosehill trial on Tuesday over Group 1 winners Arapaho and Land Legend. @tabcomau — Racing NSW (@racing_nsw) July 28, 2025 Baker was also pleased with the first trial performance of his three-time winning and Group 1-placed filly Within The Law. One horse that will be lining up in the Missile Stakes (1200m) is the Gerald Ryan and Sterling Alexiou -trained General Salute which finished second in his 900m trial. 'I'm really happy with how he is going,' Ryan said. 'He trialled terrific, action was great, looks well and is strong than he's ever been. 'I'm really looking forward to his next run. I think he's really going well at the moment.' Ryan also indicated his talented new season three-year-olds Skyhook  and Blitzburg will represent the stable in the Listed Rosebud (1100m) at Rosehill Gardens on August 16. Blitzburg won a trial on Tuesday while Skyhook finished second.
The Australian
a day ago
- Sport
- The Australian
Sapphire Coast preview, best bets, inside mail for Sunday, July 27, 2025
A win on their home track would be the perfect end to a career best season for trainers Barbara Joseph and her sons Paul and Matt Jones. The stable set themselves a target of 52 winners for the year and enter the meeting on 51 winners with a strong hand to held them reach their goal. 'I like to set a target of 52 winners, that's a winner a week across the season,' said Paul Jones. • PUNT LIKE A PRO: Become a Racenet iQ member and get expert tips – with fully transparent return on investment statistics – from Racenet's team of professional punters at our Pro Tips section. SUBSCRIBE NOW! 'This is clearly the best season we have had as a partnership but it would be great if we can get that last winner to reach our target.' Jones was extremely happy with the run of Graceful Ellen when a neck second at Narrandera two weeks ago and gives her a great chance to go one better in the Class 2 Handicap (1200m) with stable apprentice Claire Ramsbotham aboard. 'She is a little filly who isn't overly robust but she is really well and I'm very happy with her,' he said. 'Claire rode her very aggressive the other day to suit how Narrandera was playing. 'The two speed horses around her dropped out and she was still fighting out the finish. It was a really good effort. 'She goes into this meeting as one of our best chances.' Although finishing down the track at both runs back from a spell, Jones feels Zouwase can figure prominently when he steps up to a suitable distance in the Class 1 and Maiden Plate (1600m). 'He has just been a bit immature in his action and changes stride two or three times in the straight,' he said. 'I just have to try and convince the jockeys to ride through it and he will hit the line. 'At home he is working very well. Billy (Owen) has ridden him once this week to get a feel for him. 'Walk The Pier is coming off a good win for a new stable and out of stronger races prior to that. He will be hard to beat but stepping up to the mile with the blinkers back on will help Zouwase.' Jones was pleasantly surprised by the debut performance of Texas Star when third behind Sir Franklin and The Main Event at Moruya and expects him to run well again in the Super Maiden Handicap (1200m) despite a wide draw. 'He was giving away a lot of experience but I was very happy with his run behind two pretty nice horses,' Jones said. 'Unfortunately, he has draw out wide so we might have to be a little negative early and try and get across to the rail and sneak some runs. 'I feel when the track is wet there, it's better to be closer to the rail as you turn into the straight.' Jones was pleased to see Kneel Down draw a good gate in the opening event, the Maiden Plate (1000m) after wide draws impacted on his two runs at Moruya. 'He drew well at his first start and was beaten a head but he drew wide at his next two starts where he had to be ridden backwards,' he said. We have freshened him up and blinkers on and his work on Tuesday was excellent.' Jones said She's High Society is ready to run a big race first-up in the Benchmark 58 Handicap (1200m) despite not having a barrier trial or jumpout. 'With a lack of barrier trials jumpouts, we have given her eight or nine gallops to get her ready and she is working the house down,' he said. 'She drawn well and if she can hang on the back of Sir Franklin, I think she can run in the top three.' ADAM SHERRY'S TOP SELECTIONS BEST BET Race 4 No.3: WALK THE PIER Debuted for a new stable with a big win last start. The one to beat again. NEXT BEST Race 5 No.6: LONDON STAR Came from a long way back when runner-up to Walk The Pier. Can go one better. BEST VALUE Race 3 No.4: GRACEFUL ELLEN Game effort for second after a tough run last time out. Placed both runs here. QUADDIE Race 4: 3, 4 Race 5: 6, 11 Race 6: 2, 3, 6, 7 Race 7: 1, 2, 3 Billy Owen has three good chances at the Sapphire Coast. Picture: Getty Images JOCKEY TO FOLLOW BILLY OWEN has three rides and all are capable of winning. WORTH A RISK Race 7 No.6: MONNIE Every chance last start and only battled away. May want further. INSIDE MAIL – SAPPHIRE COAST RACE 1: Eden Tyrepower Country Boosted Mdn Plate 1000m YOUR MAGIC (3) was spelled after dropping out to last on debut here in December. Resumed with a handy second to I Show Speed on the Acton at Canberra on July 4. Visors on and can go one better. KNEEL DOWN (1) is better than his last two starts after drawing wide gates. Was a head second on debut over 1100m at Nowra. Blinkers go on and drawn to get an ideal run. SMOLENSKI (8) is a first starter by Farnan. Was good after sitting wide when third to Exiled Prince and sixth to Duke Of Bronte in his two Goulburn trials. Bet: Your Magic to win ■ ■ ■ ■ ■ RACE 2: South Coast Fish Processors Country Boosted (Bm58) 1200m DENI GAL (2) has had a long campaign but continues to race well. Appreciated a drop in grade to storm home and win at Moruya last Monday. In the same grade is a winner at this track and distance. SIR FRANKLIN (1) finished runner-up in his first four starts including on debut here over 1000m behind Southern Deel. Rewarded for his form with an all-the-way win from The Main Event at Moruya on July 11. SHE'S HIGH SOCIETY (9) scored a nice win from Zoutemus over 1000m here back in December. Only two runs last prep after some bad luck. Will make her presence felt. Bet: Deni Gal to win ■ ■ ■ ■ ■ RACE 3: Arv Caravans Hcp (C2) 1200m GRACEFUL ELLEN (4) kicked off her campaign with a narrow win at Bathurst after being taken wider on the turn. Raced up on speed and kept fight when a neck second to Sundrop who had the sit on her at Barrandera last start. ALOTTOSAY (2) ran three consecutive placings to start her career including a long neck second to Throw One In here before breaking through with a nice win at Nowra on Apr 20. Resumed with a barn storming win from Winnie Fortune at Moruya on July 11. TIMELESS GRACE (5) won well on debut at Wagga but disappointed at Moruya last start. Blinkers go on. Bet: Graceful Ellen each-way ■ ■ ■ ■ ■ RACE 4: Eden Sport & Rec Club Plate (C1) 1600m WALK THE PIER (3) had some handy provincial form including a debut second to Correon at Kembla before changing stable and scoring a three length win from London Star at Moruya. Drawn well and can go back-to-back. ZOUWASE (4) was beaten as favourite first-up over 1435m at Moruya then raced-wide without cover over 1400m at Narrandera. Will appreciate the step up to 1600m. Stepped up to 1600m third-up here last campaign and scored a big win from Ideelic. Blinkers back on and can bounce back. PLAYFUL PUZZLE (8) won nicely at Queanbeyan two runs back before getting second on protest at Moruya. Bet: Walk The Pier to win ■ ■ ■ ■ ■ RACE 5: Great Southern Inn Mdn Plate 1400m LONDON STAR (6) sat second chasing Badhatharry and kept fighting to a length second at Wagga. Was bumped at the start and settled near last before running on strongly along the rails to finish second behind Walk The Pier. SABLONNEUSE (11) was a handy third in his Kembla trial and debuted with a fourth to Gooloo Bucky at Moruya. Will take improvement from the run. CLOSETHEDOORDARCY (4) has finished runner-up in three of her last five starts including a nose second to Chebici at Queanbeyan. Her two recent failures have been on heavy tracks. Bet: London Star to win ■ ■ ■ ■ ■ RACE 6: South Coast Timber Eden Cup (Bm66) 1400m MISS STALWART (7) ran home strongly to beat Tom Cruising here on June 8 then got a long way back and made up some ground when ninth to Donwon at Moruya. Came from a clear last when fifth to all-the-way winner Pretty Vegas and Tonkatsu Goddess at Goulburn last start. CAPITAL HEART (3) was a length-and-a-half third to Donwon at Moruya two starts back but was disappointing in beating just one home behind Your Not The Boss there last start. Drops back in grade. EPAULLO CREED (2) has placed two of his last three. Up in grade but drops 4kg on his last start nose second to East Harlem. Bet: Miss Stalwart each-way ■ ■ ■ ■ ■ RACE 7: Coachman's Motel Eden Super Mdn Hcp 1200m BROOKLYN LIGHTS (1) rolled along in front and just faded in the straight but wasn't disgraced when fifth behind Fleeting Spirit on debut on the Kensington on March 26. Returns from a spell after two nice trials behind Bandi's Boy and Cambar. THE MAIN EVENT (3) returned from a long spell with a string closing run from last of 12 on the corner to finish a three-quarter length second to Sir Franklin over 1010m at Moruya on July 11. Step up to 1200m suits and drawn to settle closer. TEXAN STAR (3) was on debut when coming from the send half of the field to finish third to Sir Franklin. Will be prominent again. Bet: Brooklyn Lights to win
The Australian
4 days ago
- Sport
- The Australian
$51 roughie Investment shocks rivals at Randwick but trainer Joe Pride gave her a ‘sneaky chance'
Investment was a genuine roughie starting at $51 but trainer Joe Pride gave the mare a 'sneaky chance' before she caused a huge boilover at Royal Randwick on Saturday. The four-year-old was her sire So You Think's third winner of the day, following on from Glad You Think So and Oh Diamond Lil, when taking out the TAB F&M Benchmark 78 Handicap (1800m). 'I thought she could improve a bit today. I said to a few people she had a sneaky chance,' Pride said. • PUNT LIKE A PRO: Become a Racenet iQ member and get expert tips – with fully transparent return on investment statistics – from Racenet's team of professional punters at our Pro Tips section. SUBSCRIBE NOW! 'She was fitter, she looked really healthy and a bit of cut in the ground were all pointers to a better performance.' Pride rated Andrew Atkins steer aboard Investment as a '10 out of 10 ride' praising the jockey's boldness during the middle stages of the race as the key to victory. 'Plan A was to be midfield or forward but that was short lived as there was quite a bit of pressure early but she adapted to Plan B which was to get back and let her settle,' Adkins said. 'I thought if I could make a move at a point of the race when they were not making ground it would be to her advantage and that point was at about the 600m when I got on my bike and my the time we got into the straight I'd passed half of the field and we had a bit of momentum up. 'I was able to idle up, she was more than willing to do it and it saved us about five lengths. 'In the straight she really wanted to do it, she tried really hard and we just got the better of the other horse late in the piece.' • 'Very exciting' Glorious Moments can end trainers' black-type wait Investment ($51) defeated the Brad Widdup-trained Hasty Honey ($10) by a long head with Nana's Wish ($5.50) three-and-a-quarter lengths back in third. Pride has no ambitious plans lined up for Investment this preparation but he hopes the mare can continue to strengthen and improve over the next year and when winter roles around again in 2026, he may have his sights on bigger targets. 'She's always been a reasonably promising staying type of mare so it's nice to get a Saturday win with her,' he said. 'You'll see her at her best over 2400 metres and this was only her 18th start so I still don't think we've seen the best of her. 'Maybe this time next year is when she'll be at the absolute top of her game. 'While ever the tracks remain wet, she should continue to race well now as she appreciates these types of track.' The $2.60 favourite in the race She's Unusual struggled in the testing conditions, one of the first runners beaten when weakening in the straight to finish seventh.
News.com.au
4 days ago
- Sport
- News.com.au
Trainer Joe Pride's faith in Investment was rewarded as the $51 outsider claims victory at Randwick
Investment was a genuine roughie starting at $51 but trainer Joe Pride gave the mare a 'sneaky chance' before she caused a huge boil over at Royal Randwick on Saturday. The four-year-old was her sire So You Think's third winner of the day, following on from Glad You Think So and Oh Diamond Lil, when taking out the TAB F&M Benchmark 78 Handicap (1800m). 'I thought she could improve a bit today. I said to a few people she had a sneaky chance,' Pride said. 'She was fitter, she looked really healthy and a bit of cut in the ground were all pointers to a better performance.' Pride rated Andrew Atkins steer aboard Investment as a '10 out of 10 ride' praising the jockey's boldness during the middle stages of the race as the key to victory. 'Plan A was to be midfield or forward but that was short lived as there was quite a bit of pressure early but she adapted to Plan B which was to get back and let her settle,' Adkins said. 'I thought if I could make a move at a point of the race when they were not making ground it would be to her advantage and that point was at about the 600m when I got on my bike and my the time we got into the straight I'd passed half of the field and we had a bit of momentum up. 'I was able to idle up, she was more than willing to do it and it saved us about five lengths. 'In the straight she really wanted to do it, she tried really hard and we just got the better of the other horse late in the piece.' Investment delivers a massive return for punters! ðŸ'° The @PrideRacing galloper finishes strong to salute at juicy odds in Race 6 at Randwick! â€' SKY Racing (@SkyRacingAU) July 26, 2025 • 'He's a very exciting horse': Glorious Moments shines bright Investment ($51) defeated the Brad Widdup -trained Hasty Honey ($10) by a long head with Nana's Wish ($5.50) three-and-a-quarter lengths back in third. Pride has no ambitious plans lined up for Investment this preparation but he hopes the mare can continue to strengthen and improve over the next year and when winter roles around again in 2026, he may have his sights on bigger targets. 'She's always been a reasonably promising staying type of mare so it's nice to get a Saturday win with her,' he said. 'You'll see her at her best over 2400 metres and this was only her 18th start so I still don't think we've seen the best of her. 'Maybe this time next year is when she'll be at the absolute top of her game. 'While ever the tracks remain wet, she should continue to race well now as she appreciates these types of track.' The $2.60 favourite in the race She's Unusual struggled in the testing conditions, one of the first runners beaten when weakening in the straight to finish seventh.
