In a tumultuous turn of events, Queensland-based mining company Aurora Metals has collapsed, leaving a trail of debts totaling approximately $170 million. KordaMentha, the appointed administrator, is currently working through Aurora Metals' financial records.
Aurora Metals' collapse came after WA mining services company Emeco (ASX:EHL) took legal action to protect its interests. The company had provided ongoing care and maintenance services to one of Aurora's mothballed mines in Chillagoe, North Queensland.
The company's assets, which include underground mines such as King Vol and Mungana, as well as processing plants at Mt Garnet and Chillagoe, are currently under care and maintenance. |