In a significant blow to the local workforce, the Tahmoor Coal Mine, owned by billionaire Sanjeev Gupta, has been ordered into liquidation by the New South Wales Supreme Court. The court’s decision, made on March 6, 2026, follows more than a year of delays and voluntary administration. This move raises questions not only about the future of the mine but also about the wider impact on employees, the community, and the financial health of Gupta’s broader business empire.<\/p>\n\n\n\n
The mine has been non-operational for over a year, with 500 workers left in limbo as they were stood down without pay. The saga began in August 2025 when Coal Mines Insurance (CMI) filed an application for liquidation, seeking approximately $4.5 million in unpaid premiums. In response, Gupta\u2019s company, GFG Alliance, placed the mine’s holding company, Liberty Primary Metals Australia (LPMA), into voluntary administration. However, even with efforts to secure funding and rescue operations, the situation worsened, and CMI pushed for liquidation.<\/p>\n\n\n\n
Despite efforts by the newly appointed administrator, Joseph Hayes, to seek further time to secure funding from another Gupta-owned entity, the court ruled that it was time to wind up the mine. The impact on the workforce was clear\u2014238 jobs would be lost immediately, with only 50 staff members retained for basic care and maintenance. Justice Ashley Black acknowledged the human toll of the decision, expressing concern for the workers, their families, and the community dependent on the mine, reports ABC News<\/a>.<\/p>\n\n\n\n