Nearly 50 people have lost their jobs after the owner of a central Australian garnet mine is placed in administration for the second time in two and a half years.
Supplied: Australian Abrasive MineralsProduction has ground to a halt at a major garnet mine in central Australia leaving nearly 50 people out of work.An administrator says a garnet mine in central Australia was operating at a loss of $1m per month
But despite the area containing the world's largest alluvial garnet deposit, the mine has not produced enough garnet to operate at a profit. Mr Goyal told ABC Rural the mine was not producing enough garnet per tonne of ore, and was losing AAM about $1 million per month."It was making losses up until the appointment of our administrator."
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