Indonesia’s Ithaca snaps up bankrupt Queensland coal miner Vitrinite (opens original article in a new tab)

Indonesian company Ithaca acquired bankrupt Queensland coal miner Vitrinite for over $200 million, which owed $400 million in debts including $177 million to Trafigura and $16 million to employees.

• Indonesian company Ithaca acquired bankrupt Queensland coal miner Vitrinite for over $200 million
• Vitrinite owed $400 million in debts including $177 million to Trafigura and $16 million to employees
• Vitrinite filed for administration after Trafigura sought repayment for $177 million it was owed