Beaconsfield fighting not for life, but debt.

Australasian Business Intelligence, August, 2006

Byline: Michael West and Stuart Rintoul

Aug 27, 2006 (The Australian - ABIX via COMTEX) -- The Beaconsfield gold mine in Tasmania was the scene of a life and death struggle in May 2006. Two entombed miners were brought to the surface after an earthquake. The mine has not re-opened since the miners were rescued. At the height of the disaster, Macquarie Bank pledged the $A47 million worth of debt owed to it by the mine's owners to the miners and their families. In August 2006, the various corporate players involved with the mine are arguing over this money. At the same time, the town of Beaconsfield is fighting over the $A8 million pledged to it by the Australian Government. The town is bitterly divided over how this money will be spent. Meanwhile, a rich...

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