https://www.miningweekly.com

Copper miner Austral placed in receivership

3rd May 2024

By: Creamer Media Reporter

     

Font size: - +

Copper miner Austral Resources has been placed in receivership. Creditor Wingate has appointed Jason Tracy, Grant Sparks and Sean Holmes as joint and several receivers and managers.

“The business will continue to trade while the receivers and managers undertake an assessment of the financial position and determine the future of the business and its assets,” Deloitte said in a statement.

Austral’s securities remain in suspension.

On Wednesday, Austral reported March revenue of A$24.5-million and a net operating cash outflow of A$5.8-million. The company produced 1 805 t of copper cathode during the three months, but accumulated stock on site stood at 375 t by the end of March, owing to disrupted transport routes caused by weather conditions.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION