Street Talk

Oaktree in talks to finance Sanjeev Gupta’s Tahmoor coal mine in NSW

Sarah Thompson, Kanika Sood and Emma Rapaport

Jun 19, 2025 – 5.39pm

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Distressed debt giant Oaktree Capital Management has discussed financing British-Indian industrialist Sanjeev Gupta’s Tahmoor coal mine in NSW – a sprawling operation that had fed the Whyalla and Port Kembla steelworks before being idled in early February amid financing troubles.

Street Talk can reveal Oaktree’s local dealmakers, led by managing director Byron Beath, have put forward multiple funding proposals for Tahmoor, which produces about 2 million tonnes a year of steelmaking coal and had employed 450 staff and contractors.

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.