The Albanese government says it will continue to tolerate risk-taking by the federal governments independent northern investment fund after the collapse of a potash firm became the agencys first investment to formally collapse into insolvency.
Kalium Lakes founding director Brent Smoothy asked market regulators to probe the Northern Australia Infrastructure Funds (NAIF) role in the companys collapse, which has left more than $205 million of Australian and German taxpayer funds in doubt.
Kaliums project at Beyondie Lakes in Western Australia.
Resources and Northern Australia Minister Madeleine Kings office said the NAIF was a statutory body that was independent of the government, but insisted the f…
Read the full article at: https://www.afr.com/politics/federal/labor-backs-northern-australia-fund-after-first-corporate-collapse-20230808-p5duq6