Drilling outfit Mitchell Services has agreed to an almost 50 per cent haircut on an outstanding $10 million gold bill it says was owed by a Mark Rowsthorn-backed mining contractor.
The 96-rig drilling outfit said on Tuesday it had reached a settlement with SMS Innovative Mining after a dispute erupted this year. Mitchell had claimed it was owed money; SMS had argued that the drilling work on a gold mine had been problematic.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
