Woodsreef seeks $8M
The troubled Australian asbestos miner, Woodsreef Mines. Ltd, has been given a three-week stay of execution for its attempt to raise nearly $8 million, but the company still had to lay off more tlian half of its workers. The Woodsreef managing director (Mr Harrv Robinson)
said the company’s operating subsidiary, Chrysotile Corporation of Australia Pty, Ltd, retrenched between 230 and 240 workers at its Barraba mine in NSW. The mine was moving on to one shift a day, five days a week and was keeping about 180 workers at Bar- I ra ba. 1
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Press, 27 May 1981, Page 29
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97Woodsreef seeks $8M Press, 27 May 1981, Page 29
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