Padbury confirms $6 billion Oakajee deal backed by Bleyer

Padbury Mining has confirmed the companies set to bankroll the $6 billion Oakajee port and rail project have ties with Sydney businessman Roland Bleyer.

Padbury Mining has confirmed the companies set to bankroll the $6 billion Oakajee port and rail project have ties with Sydney businessman Roland Bleyer.

After failing to reveal the mystery backer on two previous occasions, the junior mining company today revealed to the market the agreement was made with Superkite and Alliance Super Holdings.

Bleyer this week told the media he was ''chairman of the finance committee'' for the companies”.

Padbury still remains in a trading halt amid plans to reveal the terms of the deal tomorrow.

Padbury Mining first announced it had backing for the Oakajee project on April 11.

ABC reports the Australian Securities and Investments Commission is looking into Padbury's disclosure and share trading in relation to the deal.

Managing director Gary Stokes has previously said the announcement was legitimate.

Stokes said the project would open up the Midwest region to the 21 companies operating in it.

The original announcement said funding for the project will come in three tranches with the first delivering $US470 million ($501.2 million) to complete design and construction plans.

SMH reports Bleyer has been involved in a number of failed business ventures of late.

Last month the NSW Supreme Court ordered Superkite and Alliance Super Holdings repay money to aged care company Craigcare after a $500 million funding deal failed.

While last year, a $260 million deal with junior mining company Fairstar Resources also fell through.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.