FINWIRES · TerminalLIVE
FINWIRES

Mastermyne Group Unit Fined AU$7 Million by Queensland Court After Industrial Manslaughter Conviction

By

Mastermyne Group (ASX:MYE) said the District Court of Queensland fined its wholly-owned subsidiary, Mastermyne Crinum Operations, AU$7 million and also ordered it to pay the regulators costs of AU$300,000 as a consequence of the industrial manslaughter conviction, according to a Friday Australian bourse filing.

An incident at the Crinum mine in September 2021 resulted in the death of Graham Dawson, and Resources Safety & Health Queensland investigated the incident, an earlier filing said. The Office of the Work Health and Safety Prosecutor brought two complaints against Mastermyne Crinum. The court returned a a guilty verdict for the industrial manslaughter charge.

Mastermyne Crinum filed a notice of appeal, and a hearing date is yet to be determined.

Mastermyne Group's shares surged almost 14% in recent Friday trade, hitting their highest since July 2024.

Related Articles

Asia

Hundsun Technologies' Profit More Than Quadruples in Q1; Revenue Slides 12%

Hundsun Technologies' (SHA:600570) attributable profit skyrocketed 343% to 138.8 million yuan in the first quarter from 31.3 million yuan a year earlier.Earnings per share at the financial software developer almost quadrupled to 0.07 yuan from 0.02 yuan, according to a Thursday filing with the Shanghai bourse.Operating income declined 12% year over year to 905.3 million yuan from 1.03 billion yuan due to lower revenue from wealth technology services, corporate banking, insurance core and financial infrastructure technology services.

SHA:600570
Asia

NH3 Clean Energy Says Assessment Report Forecasts 'Substantial Public Benefit' From Western Australia Ammonia Project; Shares Up 9%

NH3 Clean Energy (ASX:NH3) received a positive assessment for its WAH2 clean ammonia project in Western Australia from advisory firm ACIL Allen, according to a Friday filing with the Australian bourse.The assessment forecasts "substantial public benefit" from the project and supports financing applications the company has filed with government-backed lending groups Northern Australia Infrastructure Facility and Export Finance Australia, per the filing.ACIL Allen estimates that phase 1 of the project would boost Australia's gross domestic product by AU$7.3 billion over its lifespan, or an average of AU$253 million per year. The advisory firm also forecasts the creation of an average of 80 full-time equivalent jobs and tax payments of AU$2.6 billion over the life of the project.The project would also reduce global emissions by 13.5 million tonnes of carbon dioxide equivalent by displacing conventional fossil fuels through the use of clean ammonia, among other public benefits, NH3 Clean Energy said.The company's shares gained nearly 9% in recent Friday trade.

ASX:NH3
Asia

Gongniu Q1 Profit Down 3.5%, Revenue Declines 4.8%

Gongniu Group (SHA:603195) posted first-quarter net profit attributable to shareholders of 4.07 billion yuan, down 3.5% from 4.27 billion yuan the previous year.Earnings per share fell to 2.26 yuan from 2.36 yuan, according to a Thursday filing with the Shanghai bourse.The civil electrical products manufacturer's operating revenue declined 4.8% year over year to 16.0 billion yuan from 16.8 billion yuan.

SHA:603195