Just over an hour’s drive south-west from GFG Alliance’s Sydney headquarters on level 34 of the AMP Building, overlooking the glittering harbour, lies a very different part of Sanjeev Gupta’s faltering empire: Tahmoor Colliery, an underground coal mine.
The gates to the mine are open and a few dozen cars are in the car park. Most of the 450 workers were sent off with four weeks’ pay last week as the company turned off production and scrambled to find funds.
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Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
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
