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RDG placed in voluntary administration

28th July 2025

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Mining services company Resource Development Group (RDG) has entered voluntary administration after its board appointed restructuring firm McGrathNicol to take control of the business, including its flagship Lucky Bay garnet operation in Western Australia.

Jason Ireland, Rob Brauer and Linda Smith of McGrathNicol were appointed as administrators on July 28 over RDG and six subsidiaries, the firm said in a statement on Monday.

The administrators intend to continue operations while pursuing a sale or recapitalisation of the group. Trading will proceed on a “business as usual” basis, including at the Lucky Bay garnet operation.

Major shareholder and secured creditor Mineral Resources (MinRes), which owns 64.31% of RDG, said it had declined a request for a cash advance before the appointment and had now offered funding to support operations through the administration period. Terms of the funding were still being finalised.

“We will work constructively with the administrators throughout the process in the best interest of MinRes shareholders,” MinRes chairperson Malcolm Bundey said. “We will advise if there are any material developments.”

The company said it was assessing the carrying value of its investment in RDG and that it expected to book a non-cash impairment in its 2025 financial results.

Andrew Ellison-led RDG said it would remain suspended from trading on the ASX while under external administration. A first creditors’ meeting is expected to take place on August 7.

 

Edited by Creamer Media Reporter

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