Aditya Birla Minerals Ltd. (ABY), the Australian unit of India’s Hindalco Industries Ltd. (HNDL) halted work at the shuttered Mount Gordon copper mine in Australia because of damage from recent heavy rain.
Work on restarting underground mining will remain suspended while an investigation is carried out into the collapse of a vent shaft collar, the Perth-based company said today in a statement.
The mine in Queensland state was closed in February 2009 because of declining copper prices and the company now wants to restart the operation. Copper prices have more than doubled since it closed the mine.
“Implications on the schedule for the re-commencement of operations will be ascertained once the risk to the underground operations and extent and nature of the remedial work on the collar is determined,” the company said in the statement. (BLOOMERG)
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