Ballarat gold mine in administration

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’s 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.