Photo: About 120 jobs are in doubt at the Hellyer mine. (Diane Bain: ABC)
Map: Waratah 7321 The Hellyer mine on Tasmania's west coast could be shutdown indefinitely after the operating company Bass Metals recorded a multi-million dollar loss.
Company results posted to the Australian Securities Exchange yesterday show a $46.6 million loss for the six months to December.
Shares in the company are in a trading halt until the company finalises its secured and unsecured creditor obligations.
About 130 workers are employed at the mine which produces several minerals including gold, silver and zinc.
Managing Director Mike Rosenstreich told the ASX the company had been forced to scale down mining to help repay its debt.
He said the program would end in May and it was likely the operation would be placed on a care and maintenance basis pending an increase in metal prices.
The mine laid off 25 workers last month.
SDV Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
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