Trouble continues to brew for the Nifty copper mine, with workers threatening legal action against the mine’s owner, Aditya Birla.
Operations at the east Pilbara mine had to be stopped after a cave-in on March 21, and 400 workers had to be stood down on indefinite unpaid leave.
The workers were represented at a Fair Work Commission conference yesterday, following an application by the Australian Worker’s Union.
The Department of Mines and Petroleum has recently granted permission to carry out a two-phase investigation into the cave-in, after issuing a notice prohibiting all mining operations at Nifty.
“All further activities will largely depend upon completion of these two phases,” Aditya Birla said in a statement.
Aditya Birla has so far claimed it could not estimate the financial impact of the shutdown, or when operations would resume.
The ASX has refused to keep Aditya Birla shares in suspension until more accurate information is made available.
Yesterday Aditya Birla posted a full-year loss of $224,000 on $317.4 million in revenue, down 37 per cent on the previous year, and held cash reserves of 136.78 million in March.
Aditya Birla is currently trading at 23.5 cents, down 20.3 per cent after their trading halt ended two weeks ago.
The company also owns the Mt Gordon Copper Mine, currently on care and maintenance, near Mt Isa in Queensland.