Denham Capital Backs Pembroke Resources

Officials at Denham Capital, a leading international resources and energy-focused private equity firm, have announced $200 million in backing for Pembroke Resources; the newly formed Australian miner seeks to develop met coal assets across the Asia-Pacific.

Barry Tudor, CEO of the Sydney-based Pembroke, painted a bright picture. “We have a unique opportunity to develop high-quality metallurgical coal assets,” he said; Denham has $7.9 billion in invested and committed capital elsewhere in the U.K., the U.S. and Brazil.

Previously Gloucester Coal’s CEO, Tudor guided that company through $1.7 billion in market capitalization via acquisition of the Middlemount project with regulatory approval for expansions. He also served as managing director of Noble Resources and senior vice president for Noble Group’s Coal and Carbon Complex division.

Other Gloucester Coal veterans joining Pembroke include Chief Operating Officer (COO) Mark Sheldon and Chief Financial Officer (CFO) Craig Boyd. “The team delivered one of the great success stories in the Australian coal industry,” said Denham’s Perth-based Director Bert Koth, who oversees the Asia-Pacific region.