Jun 18, 2026 – 7.47amM Resources, the private mining vehicle owned by coal magnate Matt Latimore and his bidding partner GEAR have won the auction for the ailing Tahmoor operations once owned by Sanjeev Gupta.People close to the negotiations said the consortium would immediately begin work to restart operations, which have been shuttered since last February amid financial strain at the British industrialist’s once sprawling empire which included the Whyalla steelworks.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Mining magnate Latimore wins auction for Gupta’s prized coal business
The businessman is leading a consortium which includes GEAR that will restart operations after years of strain under the British industrialist’s ownership.
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