Thursday 25 September 2008
From machinery maintenance to mining mogul
HE started his career as an electrician and maintenance engineer for mining machinery, and has now ended up top of the BRW Young Rich List with a balance of $441m.
Nathan Tinkler is a self-made mogul hailing from Brisbane. He started working as an electrician in Hunter Valley coalmines, before set up a mine machinery maintenance practice when he was 26.
Following this, he partnered with his father to create Custom Mining. They raised $30m in 2007 to buy coalmines in central Queensland.
These mines were bought by
Macarthur Coal for $275m, and Tinkler was given a 10% stake in the company.
In May 2008, Tinkler sold his 10% to
ArcelorMittal for $441m, and topped the rich list, roughly ten years after he first worked as a humble electrician.
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