Metarock (ASX:MYE) - CEO & Managing Director, Tony Caruso
CEO & Managing Director, Tony Caruso
Source: Mastermyne
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Metarock (MYE) suspends operations at the Moranbah North mine after the death of an employee on March 25
  • While no details have been announced about how the death happened, Metarock is working closely with the mine operator and is undertaking an independent investigation
  • Unfortunately, this isn’t the first time a death has happened with the company confirming the death of a worker at the Sojitz Blue Gregory Crinum mine in September
  • In regards to today’s announcement, Metarock revealed it had commissioned an independent organisational review following the incidents at Moranbah North and Crinum
  • Shares in Metarock are down 12.5 per cent following this news with shares trading at 59.5 cents

Metarock (MYE) has suspended operations at the Moranbah North mine after the death of an employee on March 25.

While no details have been announced about how the death happened, Metarock is working closely with the mine operator, Anglo American, and is undertaking an independent investigation.

Metarock is providing support and assistance to the family of the employee as well as to all staff and those impacted.

“Our immediate thoughts are with the family, friends and workmates of our colleague. We will continue to support our colleague’s family and our teams as we all work through this tragic event,” Managing Director Tony Caruso said.

Unfortunately, this isn’t the first time a death has happened with the company confirming the death of a worker at the Sojitz Blue Gregory Crinum mine in September.

Another worker was taken from the mine and one was taken to hospital as a precaution with an update made a few days later revealing he was making good progress with his recovery.

Mining operations were suspended and an investigation to determine the cause of the accident was undertaken.

In regards to today’s announcement, Metarock revealed it had commissioned an independent organisational review following the incidents at Moranbah North and Crinum.

“Safety is one of our central values. We have operated for over 25 years without
a loss of life on our projects and to have two fatalities in a short space of time is unacceptable,” Mr Caruso continued.

“We will undertake a thorough independent review of our safety systems and practices across the organisation to understand where we can improve our systems and approach, to further reduce the risks of serious safety incidents.”

Shares in Metarock were down 12.5 per cent following this news and were trading at 59.5 cents at 2:03 pm AEDT.

MYE by the numbers
More From The Market Online

Coles, Woolies left furious over gov’t checks designed to limit ‘excessive pricing on groceries’

Coles and Woolworths have come out swinging against the government's plan to impose stricter rules to…
The DealRoom homepage on HotCopper.

DealRoom is expanding: Your global gateway to capital-raising investments

DealRoom is expanding into the U.K., in a brand-new chapter in cross-border deal flow to connect companies…
Diamond drilling at Bankan.

‘Inferior’: Perseus backs down on Predictive merger – but not without swipe at Robex

Perseus Mining has thumbed its nose at Robex as it heads out the door, stepping away…
The words "Market Open ASX 200 Futures Tip FLAT" appear stacked atop one another next to ASX today company iconography.

ASX Market Open: Spluttering Oz shares not doing much of anything pre-holidays | Dec 16

ASX today – Australian shares are flat on Tuesday as CY25 trade now looks to close…