Mining

BRI Ferrier has extensive experience with mining and mining services businesses, developing tailored, commercial and innovative solutions to financial challenges.

We understand the mining sector’s multitude of issues, which include low commodity prices, high labour costs and skill shortages. While mining companies face difficulties in finding skilled talent and increases to their cost base, suppliers face onerous contract terms incorporating performance guarantees within tight timeframes, intense competition and narrowing margins.

 

KEY PEOPLE

CASE STUDIES

Redmond Drilling

Redmond Drilling, a mining contractor in Kalgoorlie, appointed BRI Ferrier as voluntary administrator. With creditors owed $1.7 million, a deed of company arrangement was administered. A successful turnaround strategy then ensured creditors received 100 cents in the dollar and the return of the company to the director to resume profitable trading.

Bounty Mining

BRI Ferrier was appointed as voluntary administrator to Bounty Mining, a publicly listed thin-seam coal mining contract services group that provided mining solutions and equipment to mine owners. A deed of company arrangement was developed and the company was restructured through reducing overheads and injecting capital. The company was returned to the directors and continues today as a going concern.

Gulf Conveyer Holdings

BRI Ferrier was appointed as voluntary administrator and then liquidator to Gulf Conveyor Holdings Pty Ltd, a company that designed, manufactured and installed conveyor systems for coal miners. Due to a contractual dispute with a client and the non-payment of a large progress claim, the company entered administration. Despite ultimately being placed into liquidation, BRI Ferrier negotiated with the client and secured a substantial settlement.

Minerals Corporation

Minerals Corporation Ltd appointed BRI Ferrier as voluntary administrator and then liquidator to its subsidiary Skardon River Kaolin Pty Ltd. Minerals Corporation, an exploration company with tenements in far north Queensland, was successfully reconstructed and returned to the directors. Due to unfeasible production and transportation costs, the Skardon River site was no longer viable and was ultimately liquidated. BRI Ferrier managed the site for 12 months on a care and maintenance basis before realising the site’s plant and equipment and winding the company down.

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