https://www.miningweekly.com
Business|Copper|Exploration|Gold|Mining
Business|Copper|Exploration|Gold|Mining
business|copper|exploration|gold|mining

Abra Mining goes into administration

The Abra plant during construction in June 2022

The Abra plant during construction in June 2022

5th April 2024

By: Creamer Media Reporter

     

Font size: - +

Richard Tucker and Robert Hutson of KordaMentha Restructuring have been appointed as voluntary administrators of Abra Mining, which owns and operates a lead and silver mine in the Gascoyne region of Western Australia.

The appointment of administrators follows efforts by the company and its stakeholders to recapitalise the business. 

The Abra mine remains in operation, while the administrators will seek offers to recapitalise or acquire the company or its assets. 

Abra has a resource of 33.4-million tonnes at an average lead grade of 7.1% and 17 g/t of contained silver.  
 
“The Abra mine is a world class asset with an initial mine life of more than 13 years, as well as considerable exploration potential with copper/gold mineralisation below the lead/silver deposit,” said Tucker.

“We intend to continue to operate the mine during the administration while we seek offers to recapitalise the company through a sale or deed of company arrangement process. We are asking all suppliers and stakeholders to work with our team to ensure value is preserved and a sale or recapitalisation can be completed as quickly as possible for the benefit of all stakeholders.  

“This is an excellent asset that will attract considerable interest from local and offshore investors.” 

Edited by Creamer Media Reporter

Comments

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







sq:0.214 0.242s - 126pq - 2rq
Subscribe Now