Australia News

Queensland Copper Producer Austral Resources Enters into Receivership

One of Austral Resources’ creditors has appointed receivers to recover a secured debt owned by the company.
Queensland Copper Producer Austral Resources Enters into Receivership
Rolls of copper wires stored at the Nexans manufacture in Lens, northern France, on May 11, 2022. Denis Charlet/AFP via Getty Images
Alfred Bui
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The future of over 60 workers at Austral Resources Australia is in limbo as the copper producer has entered into receivership.

On May 2, the company announced that one of its creditors, Wingate, had appointed three partners from Deloitte as receivers and managers to Austral Resources in relation to a secured debt owed to Wingate by its subsidiary Austral Operations.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].