Operator of the Peko iron ore and gold project in the Tennant Creek region of the Northern Territory, Elmore, has entered voluntary administration.
Elmore has entered all eight of its subsidiaries into voluntary administration, prompting questions over whether the mine is to be saved or permanently closed.
The announcement was made via a notice from the appointed administrators Martin Jones, Matthew Woods, and Clint Joseph of KPMG late last week.
The directors of the companies resolved that the companies were insolvent or likely to become insolvent at some future time and that administrators should be appointed to the companies, the notice said.
A further update in respect of the companies operations will be released to the market in du…
Read the full article at: https://www.australianmining.com.au/elmore-enters-voluntary-administration/