Alita Resources Ltd.'s receivers are planning to place its Bald Hill lithium-tantalum mine in Western Australia on care and maintenance, Mining News reported Sept. 2, citing receiver Andrew Smith.
Galaxy Resources Ltd. appointed Martin Jones, Matthew Woods and Andrew Smith from KPMG as receivers and managers of Alita in August after the latter called in administrators after failing to extend a standstill agreement for its A$40 million secured loan facility.
Galaxy recently acquired Alita's senior secured loan facility worth US$28.8 million that was provided by lenders led by Tribeca Investment Partners Pty. Ltd.
The Ball Hill mine has about 200 workers, according to the report.
