Image for Shree: Tom Ellison right on the (lack of) money ...

*Pic: Bryan Green, former Deputy Premier; now Opposition Leader, and Shree’s Sanjay Loyalka ...

SATURDAY,  MAY 7: 

• ABC Radio is reporting that Shree has suspended operations, throwing around 40 locals out of work ...

AND,

Advocate: Fears over 30 mine jobs

Tasmanian Times’ analyst Tom Ellison was right on the (lack of) money. He wrote on May 9: Shree: Tasmania will certainly never see a cent in royalties .... And, even earlier on May 2: Shree Minerals: Few prospects, even less cash, and virtually no credibility ... Now the Circular Head Mayor is being quoted as saying some workers there are not required for some weeks. And Scott Jordan and Kim Booth say ...

Scott Jordan, Campaign Coordinator, Save the Tarkine: Shree Minerals closure requires urgent action on rehabilitation plan.

Save the Tarkine has has urged the Federal Environment Minister and the Tasmanian EPA to act immediately to impose rehabilitation conditions on the Nelson Bay River mine after today’s company leaks have indicated it is to halt production in June.

The state and federal environment permits required Shree minerals to submit rehabilitation and closure plans one year after commencement on mining. The mine has closed after just six months of production.

“Save the Tarkine warned the EPA and the Minister that this permit requirement was a invitation for disaster. Every economist on the planet has been foreshadowing a fall in the iron ore price and our environmental regulators have chosen to ignore them”, said Save the Tarkine Campaign Coordinator, Scott Jordan.

“We are now left with a scar on the Tarkine’s landscape and a large amount of acid producing material sitting like a time bomb on the Nelson Bay River, with no certainty or commitments on how this will be dealt with.”

“The governments must take responsibility for their role in this debacle and act to enforce adequate and appropriate action on rehabilitation and worker entitlements, because given Mr Loyalka’s form at Pike River (NZ), you would be a fool to bet on him again.”

John Lawrence: Shree: Another mining accident waiting to happen?

• Kim Booth, Greens Leader: Shree Minerals Shut-down Legacy: Hole in the Tarkine & Hole in Public Purse

Shree Minerals must immediately clarify internal company leaks that it intends to halt production at its controversial Nelson Bay River iron ore mine in June, Greens Leader and Mining spokesperson Kim Booth said.

“Many people, including financial analysts, had warned that the iron ore market would drop, warned this project did not have a financially viable business case, yet both the Federal and state governments changed the rules to facilitate it, and now Tasmanians are at risk of having to pay the price.”

“Labor, cheered on by the Liberal Party at the time, provided a mining royalty holiday to Shree, both the Federal and State authorities watered down permit conditions to give Shree a leg up, yet apparently all to no avail.”

“Under the current permit conditions Shree is not required to submit rehabilitation and closure plans until one year after mining commenced.”

“Six months later and internal leaks indicate production will halt.  We now have an open-cut hole in the Tarkine, a hole in the public purse, and a hole in any legal requirements for the company to rehabilitate.”

“Both Labor and Liberal should take responsibility for having pumped up this dodgy project, and for pumping up people’s expectations of local jobs.”

“The current uncertainty and anxiety that the Shree workforce now face, will keep being repeated and inflicted on local communities whenever governments interfere with the market and try and prop up unviable private sector pipe-dreams.”

“The local workers, and the Tasmanian taxpayer deserve an immediate clarification on the status of Shree’s Nelson Bay River mine.”

“Everyone knew that the amount of ore Shree would mine from this site is less than what mining magnates like Gina Rinehart would have for lunch. This was a cruel hoax perpetrated upon the Tasmanian community, and whether its production halts in June or later, the project’s ultimate failure is inevitable,” Mr Booth said.

• Tristan, in Comments Tom Ellison is right on the money. The carnage that is about to be unleashed on Iron Ore miners has not even been factored in yet. Venture Minerals has a snowball’s chance in hell of getting up as well. What never ceases to amaze me is how Tasmanian government departments and the bogan public are conned into supporting these operations. Due diligence or lack thereof is a Tasmanian trait. Unfortunately for Circular Head the correction underway in global Dairy prices will further exacerbate this;  that one will not be able to be blamed on the Greens. This has been attempted with the Woolnorth expansion; the only reason this has not happened is it is a fundamentally poor business as well. I work with China’s largest agribusiness and commodity trading groups; the amateur show performances that the Tasmanian public servants have put on here over the last 12 months is a joke .