00:02Australia's only manganese smelter facing an increasingly uncertain future.
00:07The national corporate watchdog moving to wind up Liberty Bell Bay.
00:12We understand that this will be quite shocking news for some staff
00:16and perhaps a little bit apprehensive for them
00:20seeing as they have been working there for quite some time
00:24without operations happening, without them starting back up.
00:27In documents filed with the New South Wales Supreme Court,
00:30the regulator alleges Liberty Bell Bay failed to lodge financial reports for five years
00:36despite a court order.
00:37The smelter has been in care and maintenance since May last year.
00:41The Tasmanian Government loaned the company $20 million to buy or to restart processing.
00:48That didn't happen and at the end of January the Government sent in receivers to protect the stockpile.
00:53This facility is important for the Bell Bay community, the broader north and right around Tasmania.
01:02And to have an owner that doesn't want to invest in it
01:05clearly shows that there should be new owners who are willing to invest in the future of this facility.
01:12Federal Industry Minister Tim Ayers supported ASIC's move
01:16and says the independent regulator is working as it should.
01:19Liberty Bell Bay says it will resist the wind-up application
01:22and submit its financial reports as soon as possible.
01:26It says all employees are still being paid.
01:29This is a sovereign capability for steel making with Magnanese for Australia.
01:33So it would be tragic for Australia to lose that sovereign capability.
01:38A nervous wait for more than 200 workers.
01:41A nervous wait for more than 200 workers.
01:42B
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