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Gilbert + Tobin has advised the voluntary administrators of the Adaman Group on a major mining restructure. Firm: Gilbert + Tobin (Adaman Group). Deal: Barry Wight and Jeremy Nipps of Cor Cordis ha
Driller takes $5m haircut to end gold spat with Rowsthorn contractor Share Drilling outfit Mitchell Services has agreed to an almost 50 per cent haircut on an outstanding $10 million gold bill it says was owed by a Mark Rowsthorn-backed mining contractor. The 96-rig drilling outfit said on Tuesday it had reached a settlement with SMS Innovative Mining after a dispute erupted this year. Mitchell had claimed it was owed money; SMS had argued that the drilling work on a gold mine had been problematic. Nathan Mitchell of Mitchell Services was also a director of Adaman until February this year....
Bids land for Downerâs $200m mining services arm Save Share Downer Group has received offers for its up-for-sale Open Cut Mining East arm. Street Talk understands bids for the $3.8 billion companyâs Open Cut Mining East division have started flowing in, with offers around the $200 million mark. The Macquarie Capital-run auction is understood to be shaping as a three-horse race between Mark Rowsthornâs Rivet Group, Indian player AvidSys and Indonesian mining contractor Buma. Sources reckoned the international players had their noses in front, however Rivet hasnât given ...
Governance questions gush from drilling bill spat Share Disaster can strike in many ways when drilling hundreds of metres down for minerals and metals such as gold or coal. A man can suffer serious spinal injuries when a 270-kilogram drill rod falls on him, oil can spray over hot exhaust when a rig hydraulic line ruptures, a worker can lose his arm when his jacket entangles in rotating rods. Nathan Mitchell with a rig during the boom times in 2009. Glenn Hunt There is even a 68-page code of practice published by Western Australia’s Department of Mines and Petroleum outlining ways to pre...