17 Dec 2012

Mining magnate in trouble

7:20 am on 17 December 2012

One of the wealthiest miners in Australia is in trouble. Only a couple of years ago, Nathan Tinkler was being featured on the front pages of business magazines next to his prime assets like thoroughbred racehorses and football teams.

Now his Hunter Sports Group faces being placed in liquidation after the tax office launched court action over nearly $A2.7 million in unpaid debts.

The sports group includes the Newcastle Knights rugby league team and an A-League soccer franchise.

Radio New Zealand's Sydney correspondent reports Tinkler, who has also lost his private jet and helicopter, recently moved to Singapore in an effort to get his affairs in order.

Tinkler, 36, is a working class boy made good. He started as a mining apprentice and set up his own company at the age of 26.