PERTH (miningweekly.com) – The administrator of Pluton Resources has advised shareholder and project house Watpac to undertake a limited scope of mining work at the Cockatoo Island operations.
Watpac suspended an existing mining services contract at the Cockatoo Island project at the start of November after Pluton’s junior Chinese creditor Rizhao Port Group appointed receivers and managers to Pluton.
Pluton’s first ranking secured creditor and major shareholder General Nice Resources Commercial Offshore De Macaw Limitada (GNR) subsequently appointed its own administrators, and started engagements with the company’s key stakeholders to target the restart of the Cockatoo Island operations.
Watpac said on Friday that current discussions with Pluton, GNR and the administrators were encouraging, but noted that to date, the company had received no definitive direction relating to the resumption of more substantial mining works at Cockatoo Island.
Watpac added that it remained committed to working with each of the key stakeholders over the coming weeks in an attempt to assist with the development of a longer-term sustainable operating model for the Cockatoo Island mine.