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Ballarat gold mine in administration

March 10, 2023

A Ballarat Goldmine recently entered administration, leading to understandable concern among our members. However, we wish to reassure everyone that despite this development, our members are still working, and the outlook for the company is hopeful.

The current management has worked hard to improve the business’s position, though it is a case of too little too late due to the previous management group’s financial mismanagement of the mine. Additionally, worker safety was compromised during their time in charge.

During a recent meeting with staff, we were informed of the possibility of a large investment bank financially backing the mine as soon as this week, which would allow the company to continue to operate as per normal. We remain optimistic that this development will help to stabilise the financial position of the mine.

Moreover, we are currently in the process of organising a meeting with our members and state ministers to explore the government’s support options for the mine. We believe that this meeting will be a crucial step in securing the mine’s future.

We want to assure everyone that we are committed to keeping close communication with our members and the company‚Äôs management during this process and into the future. We will provide updates as they become available, and we appreciate everyone’s patience and understanding during this time.

Quotes attributable to, Mick Derrick | The Australian Workers’ Union | Victoria Branch Regional Organiser

“Of course this is not something you want to have happen to the workers, if the worst case scenario occurs, we will be assisting AWU members through the process and will be consulting with the company to get the best possible outcome.”

“At this stage we are positive that the workers will keep their jobs, however we will be ready for any change of circumstances.”

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