Coburn mineral sands mine to enter care-and-maintenance
The Coburn mine in Western Australia is being placed into care and maintenance, the receivers of Strandline Resources said on Friday, stating that it was moving closer to concluding a sale and recapitalisation process for the company.
While the transaction process was “well progressed”, the receivers said recent market conditions had led to ongoing trading losses at the Coburn mineral sands operation.
Prospective buyers now prefer to acquire the asset in a temporary care-and-maintenance phase.
The receivers expect the care-and-maintenance period to be short, with production likely to resume later in 2025. The pause in operations will allow new owners to reset the mine to support its long-term sustainability and profitability.
Strandline entered voluntary administration in February. The Coburn operation is designed to process ore to recover three main critical mineral products - zircon and titanium ores of rutile and ilmenite.
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