The financial woes affecting British businessman Sanjeev Gupta’s empire have spread to the Tahmoor coal operations south of Sydney, where about 450 workers have been stood down as critical supplies dwindle.
The Tahmoor underground mine will be idle for around a month because of a failure of the company to pay bills for vital chemicals, diesel and other supplies that are required for its operation. The mine is part of a significant Australian industrial business owned by Mr Gupta’s GFG Alliance.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
