ASIC raids mine at centre of fake coal testing claims

, , ,

By Liam Walsh | Australian Financial Review

The corporate watchdog has raided the mining operation at the centre of allegations of fake coal analyses.

Queensland police on Monday helped officials from the Australian Securities and Investments Commission execute a search warrant on TerraCom, which runs the Blair Athol coal mine in the central part of the state.

ASIC confirmed the action to The Australian Financial Review but declined to comment further. ASX-listed TerraCom, which bought the mine from Rio Tinto in 2017, did not immediately respond to a request for comment.

The mining operation has previously denied having any hand in fixing coal certificates to artificially boost the commodity’s quality…Full Story

Related Posts

, ,

China may take steps to curb surging iron ore prices

Source: Reuters BEIJING (Reuters) -Chinese regulators may take steps to curb surging iron ore prices, the state-owned Shanghai Securities Journal said on Friday, without providing details on any actions to be taken. The report comes after China’s state planner said last week it had sought expert advice on how to deal with rising prices. Read […]

,

Coal shortage now at alarming levels, say aluminium producers

With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Aluminium Association of India (AAI) has urged the union coal ministry for immediate resumption of adequate coal rakes for the highly power-intensive Aluminium industry. In its representation to the Ministry, the AAI has lauded […]