Nathan Tinkler
Nathan Tinkler | |
|---|---|
| File:Nathan Tinkler.png Nathan Tinkler in Melbourne’s CBD | |
| Born | 1 February 1976 Port Macquarie, New South Wales, Australia |
| Occupation | Mining Executive |
| Website | tinklergroup.com |
Nathan Tinkler (born 1 February 1976) is an Australian mining industry executive and was previously the principal shareholder of Aston Resources[1] and Whitehaven Coal.[2] He started out as a mining apprentice in the Hunter Valley, in New South Wales and set up his own business at age 26. Much of his wealth was acquired from investments in the mining industry.
Biography
Tinkler qualified as an electrician at the Muswellbrook TAFE[3] and commenced his involvement in the coal industry as an apprentice electrical fitter for Bayswater Coal. At aged 26, he started his own mine machinery maintenance business called Custom Mining.
In 2006, Tinkler paid a $1 million deposit to buy the Middlemount coal mine in Central Queensland. A year later, he sold his Middlemount stake to Macarthur Coal for $275 million with the payment largely in shares. In May 2008 Tinkler sold his Macarthur shares for A$422 million[4][5] in cash.
Tinkler was named by BRW magazine in September 2008 as Australia’s richest person aged 40 or less with a stated net worth of $441 million at age 32.[6]
In 2008, Tinkler purchased the Maules Creek Mine coal deposit in New South Wales for $480 million from Rio Tinto and floated the vehicle for the deposit, Aston Resources Limited, in 2010 with a valuation of $1.2 billion.[7]
In early 2012, Tinkler was named by BRW magazine as Australia’s youngest billionaire with a stated net worth of more than $1.18 billion.[8]
In May 2012, Tinkler merged Aston Resources Limited and another coal mining company controlled by him, Boardwalk Resources, with Whitehaven Coal creating a leading independent coal mining company with market capitalisation in excess of $5 billion.[9]
In June 2013, Tinkler’s shareholding in Whitehaven Coal was sold to his main financial backers.[10]
In 2014, Tinkler was called to give evidence before the Independent Commission Against Corruption over allegations of illegal donations to New South Wales politicians. He denied any wrongdoing and no corruption finding was made against him.
Tinker was appointed Managing Director of Australian Pacific Coal Limited in 2015.[11]
In February 2016, Tinkler was declared bankrupt by the Federal Court with his bankruptcy subsequently annulled in August 2018.[12]
In December 2018, entities associated with Tinkler commenced proceedings in the New South Wales Supreme Court against Whitehaven Coal seeking compensation in relation to the 2012 acquisition of Boardwalk Resources Limited.
Other business interests
In 2008, Tinkler established a racehorse enterprise, Patinack Farm, which became one of Australia’s largest locally owned racing organisations, experiencing tremendous success in a short period of time. This success is highlighted by eight individual Group1 winners, more than 40 stake winners and over 200 metropolitan victories.
Patinack Farm consisted of three major properties including Sandy Hollow a 3,300 acre breeding facility, a 1,000 acre training facility and stud at Canungra on the Gold Coast and 950 acres of undeveloped horse country at Monegeeta, Victoria. Patinack Farm owned as many as 600 broodmares, along with some of the highest potential stallions in Australia. Tinkler sold Patinack Farm in 2014.[13]
On 22 September 2010, Football Federation Australia announced that Tinkler had purchased the A-League club Newcastle Jets through his Hunter Sports Group.
On 31 March 2011, Hunter Sports Group also assumed ownership of the Newcastle Knights rugby league club.[14][15] The Knights signed Wayne Bennett to a four-year coaching contract with the club, starting in 2012.
Hunter Sports Group subsequently relinquished its ownership of both the Newcastle Jets and the Newcastle Knights.
References
- ^ https://www.asx.com.au/asxpdf/20110926/pdf/4219ftj5p6plpd.pdf
- ^ https://www.asx.com.au/asxpdf/20120926/pdf/428zb39xsl8p56.pdf
- ^ Crawley, Paul (19 January 2011). "Nathan Tinkler says he cannot understand hesitance of Newcastle Knights to accept $100m buy-out offer". Daily Telegraph.
- ^ Reilly, Tom (10 October 2010). "The fortune and fury of a young tycoon". Sydney Morning Herald. Retrieved 24 August 2012.
- ^ Treadgold, Tim (13 February 2012). "Country Boy Makes It Big in Coal". Forbes. Retrieved 6 November 2012.
- ^ Zappone, Chris (24 September 2008). "Nathan Tinkler takes No. 1 spot on the BRW Young Rich list". The Age. Australia. Retrieved 24 August 2012.
- ^ "Young rich list member Nathan Tinkler tipped to launch $1.5 billion float". Smartcompany.com.au. 29 July 2010. Archived from the original on 20 April 2012. Retrieved 24 August 2012.
- ^ https://web.archive.org/web/20121020052617/http://www.brw.com.au/p/sections/features/the_list_brw_rich_OPa13Wsi1unYeN6nomvrGK
- ^ https://www.smh.com.au/business/tinklers-aston-and-whitehaven-in-5-1b-merger-deal-20111212-1oq4f.html
- ^ https://www.smh.com.au/business/companies/tinkler-sells-out-of-whitehaven-20130619-2ohnj.html
- ^ http://www.aqcltd.com/site/PDF/e59752bc-736a-4527-9ce5-2c9f2e824dcb/BoardandManagementChanges
- ^ https://www.afr.com/companies/mining/nathan-tinkler-billionaire-to-bankrupt-plots-coal-comeback-20210203-p56z43
- ^ https://www.racing.com/news/2014-05-21/patinack-farm-sold#/
- ^ https://www.theage.com.au/business/insolvent-trading-claim-against-tinkler-still-possible-20130217-2el7s.html
- ^ <https://www.theage.com.au/sport/racing/tinkler-keen-to-race-on-20130402-2h3p8.html