Administrators have been appointed to the holding company of a New South Wales coal mine after documents revealed it owes $30 million in royalties as part of more than $100 million in outstanding debts.
The Tahmoor coking coal mine south-west of Sydney has been closed since February, when it ran out of cash to pay its suppliers after it was embroiled in the financial turmoil engulfing its owner, British billionaire Sanjeev Gupta’s GFG Alliance.
About 500 workers were stood down with pay, but about half of that number were contractors who have recently been told they will no longer be paid.
On Monday, the mine’s parent entity, Liberty Primary Metals Australia (LPMA), was placed into voluntary administration.
Funds from the profitable Tahmoor…