for a $2 million payment. In 1969, the Dillingham Corporation of Honolulu bought a 33% shareholding, later increasing to 50%. In 1972, it was then taken over by T & G Mutual Life Assurance Society and delisted. It was included in the 1983 purchase of T & G Mutual by National Mutual, and in 1986 was sold in a management buyout to Graham Clements. Having purchased a number of locomotives from FreightCorp and AN Tasrail, in 1995/96 Silverton Rail leased six locomotives to National Rail for use on Adelaide to Melbourne services as bankers to Tailem Bend. With the introduction of an open access regime in New South Wales the business was rebranded as Silverton Rail, and in August 1999 began operating iron ore services from Cobar to Narromine as a subcontractor to National Rail and relocated the majority of its fleet to Parkes Roundhouse. In August 1999, it also began operating trip workings in Sydney. In August 2000, Silverton began operating grain services from Nyngan to Sydney. During the early 2000s a new depot was established in Newcastle at the Broadmeadow Yard rail facilities. This small crew provided train crewing and logistics for the Southland (Pelton) Coal Mine near Cessnock to Pacific National until its 2003 closure due to underground fires. Other services from the Broadmeadow Depot included the daily containerised freight service from Tolls Carrington to Port Botany and return, as well as crewing both ends of the Wee Waa to Port Botany export cotton trains. Crewing services were also provided to Interail and Pacific National Rural & Bulk, Pacific National Coal and Railcorp for AK Track Recording Cars, maintenance and emergency recovery trains. In February 2006, Silverton Rail was sold to Western Australian-based South Spur Rail Services. The locomotives and rolling stock were sold to the Allco Finance Group and leased back. Silverton Rail was rebranded as Southern & Silverton Railway. In March 2007, South Spur Rail Services was purchased by Coote Industrial. Following Allco Finance running into financial trouble, Coote Industrial was able to buy much of the former Silverton rolling stock in January 2008 through controlled subsidiary Greentrains. In June 2010 South Spur Rail Services was sold to P&O Trans Australia. In April 2011, Qube Logistics acquired outright control and majority ownership of P&O Trans Australia and Southern & Silverton Rail was rebranded. Qube Logistics purchased New South Wales freight operator Independent Transport Group in