Cockatoo, like Koolan was operated for many years by BHP. Then in the 80s Alan Bond took it over as a tourist spot. His wife, Pixie, was chief decorator and had all the workers accommodation and ammenities painted pink, which still remains to this day and are currently looking pretty shabby. Alan Bond got into all sorts of financial trouble (regarding matters not pertaining to Cockatoo) and went bankrupt. In court when Alan Bond was questioned over his financial affairs he became infamously known for loss of memory. Alan Bond was good mates with Bob Hawke especially at the time of Alan Bond winning the Americas Cup Yacht race.
About 20 years ago, Cockatoo was taken over by Pelican Resources (or a name something like that) and they went broke because they were only mining around 1.5mt pa which was not enough to cover costs.
In recent years it has been taken over by a Chinese controlled company called CIM (Cockatoo Island Mine) who have stated they intend to get the mine up and running again. Cockatoo main pit is currently flooded due to a porous sea wall built on a soft footing. It is estimated it would cost $1,000,000 month for 18 months to dewater main pit. From memory main pit on Cockatoo has be mined to around 40 metres with the entire length of the seawall currently a few metres under water. (In contrast, Koolan currently has been mined to over 120 metres deep.)
Cockatoo is being used as a place for local fisherman to refuel their boats. The Buccaneer archipelago is well known as a fisherman's paradise with jaw dropping scenery.
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