Jun 19, 2026 – 2.30pmA bankrupt Queensland coal miner that collapsed owing $400 million has been acquired by an Indonesian rival for more than $200 million.Brisbane-headquartered Vitrinite filed for administration earlier this year when a creditor, Singaporean commodities trading house Trafigura, sought repayment for $177 million it was owed. The privately owned company owed another $265.9 million to other creditors, including $16 million to employees and $2.2 million to Isaac regional council for unpaid haulage fees.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Indonesia’s Ithaca snaps up bankrupt Queensland coal miner Vitrinite
The operator of the Vulcan venture in the Bowen Basin fell into administration earlier this year, owing $400 million to creditors including Trafigura.
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