IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Two miners have died in Australia following a roof collapse at the Austar underground coal mine in the Hunter Valley.
Yancoal Australia CEO Reinhold Schmidt issued a statement this morning.
“Our thoughts are with the families, colleagues and friends of the two employees in this tragic incident,” Schmidt said.
“The safety and wellbeing of all Austar Coal Mine employees and the contractors is of primary concern and we are currently providing on the ground support to the families of the two employees and our other employees and contractors.
“We are unable to confirm the cause of the incident and it would be inappropriate to speculate,” he added.
Six ambulances, police and the NSW Fire and Rescue, as well as a helicopter, were at the scene from Tuesday night to Wednesday mornin, Australia Network news reported..
The mine, run by Yancoal Australia, an Australian-Chinese partnership, employs over 400 staff. It operates seven coal mines, producing coking coal and employs more than 400 workers including contractors, according to the firm’s website. Yancoal purchased the mine in 2004.
