Restart On The Horizon For Ridges Iron Ore Mine, But Contractors Still Owed Millions By Previous Operator Gold Valley Iron

An East Kimberley mine is working towards its second restart since closing five years ago, but it could be months before liquidators finish investigating the estimated $15 million in debt racked up by the previous operator.

Administrators were first appointed to Perth-based explorer Gold Valley Iron on February 17, less than six months after the company restarted operations at the mothballed Ridges mine south of Kununurra.

Only weeks later, operations at the project had ground to a halt and creditors agreed the company would be liquidated to recover the millions owed to the dozens of contractors and local businesses left out of pocket.

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