Article

Wingstar Investments failed to pay a $9.1 million bond for the Avalon nickel mine, creating a potential $300 million environmental cleanup liability for Western Australia’s Mining Rehabilitation Fund (MRF). The Department of Mines, Petroleum and Exploration (DMPE) stated that this non-compliance could lead to tenement forfeiture.

Wingstar also owns the Cawse mine, which has an even larger rehabilitation cost. The MRF, with a balance of $356 million, has faced significant cost overruns in past projects, exemplified by the Ellendale diamond mine. Wingstar, owned by Logistek Pacific, had acquired the mines from Norilsk Nickel in 2014.