Australian coking coal miner Tahmoor Coal Pty has secured a $140 million private credit loan from RRJ Capital to restart its operations.

The five-year senior secured credit facility has been signed but not yet funded, Bloomberg reported, citing people familiar with the matter.

The deal signals a growing role for private credit in financing coal and other fossil fuel projects as banks retreat from the sector under environmental, social and governance policies.

A consortium comprising Golden Energy and Resources Ltd, controlled by Indonesia's Widjaja family, and Australian miner M Resources Ltd acquired Tahmoor Coal following a court-ordered liquidation process, according to an official press release in June.

It is reported that the company was previously owned by GFG Alliance, which bought it from Glencore Plc in 2018. The consortium's acquisition paved the way for the company's restart and continued operations.