abc.net.au/news/dubbo-mine-asm-faces-financial-losses/102111066A billion-dollar mining project will be financially unsustainable unless the company receives more funding, an independent auditor has found.A billion-dollar mine is facing an uncertain future, with an auditor warning it needs to receive more funding to continue running
The company's interim report, which was released this week, found its overall loss increased 38 per cent from June to December 2022. The company has estimated the construction phase will cost $2.5 billion and employ 1,000 workers, with 270 full-time jobs expected when the mine is up and running.In a statement, a company spokesperson said they were confident it would be able to secure additional funding.
The report noted the company's loss included $3.5 million from the reduction in Korean raw materials prices.It also noted growing competition from new minerals suppliers, which it said "could adversely impact on financial performance and growth if ASM is unable to adapt". Professor Tim Harcourt, who interviewed ASM's managing director for an episode of his video series The Airport Economist, said the company had been "leading the charge" into the Korean mineral markets."Australian Strategic Minerals in Dubbo is a perfect example; they've been the flagship of the Australia-Korea relationship in recent years, particularly during COVID times," Professor Harcourt said.
When did the company's name change?
If the ABC wants our tax dollars that bad, they should start reporting things of importance
What from taxpayers. No way !!!
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