Wiluna Mining Centre in WA. Source: Wiluna Mining Corporation.
The Market Online - At The Bell

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

  • Perth company Wiluna Mining (WMC) suspends its gold concentrate shipments to Russia because of the ongoing invasion in the Ukraine
  • Wiluna says the company has made arrangements in place to sell and ship all its concentrate to alternative destinations, though did not mention to whom
  • The company mentions it will continue to monitor the ongoing Russia-Ukraine conflict and any sanction imposed by the Kremlin before many any more decisions
  • The announcement comes four days after Wiluna had sent its first shipment of gold concentrate to Polymetal International’s POX treatment facility in Khabarovsk Territory in Russia
  • WMC shares are down 9.23 per cent, trading at 88.5 cents

Perth company Wiluna Mining (WMC) has released a statement indicating its immediate suspension of gold concentrate shipments from its Wiluna Mining Centre to Russia because of the current military invasion of Ukraine.

Wiluna has since made arrangements in place to sell and ship all its concentrate to alternative destinations.

Wiluna has also made mentioned that it will continue to monitor the ongoing Russia-Ukraine conflict and any sanction imposed by the Kremlin before making any more decisions in regards to any planned shipments to Russia.

The announcement comes four days after Wiluna had sent its first shipment of gold concentrate to Polymetal International’s POX treatment facility in Khabarovsk Territory in Russia.

The company had planned another 20 containers to be loaded and sent in early March.

In light of this announcement, WMC shares are down by 9.23 per cent trading at 88.5 cents at 11:36 am AEDT.

WMC by the numbers
More From The Market Online

Daily ASX Market Open: ASX200 set to rise on Friday – May 31, 2024

The ASX200 is set to rise by +0.80% on Friday following a lacklustre week for the…
The Market Online Video

Daily ASX Market Close: Index slides as basketball fan makes $40 million bid for Perth Wildcats, May 30, 2024

The ASX200 continued to slide today, shedding another half a per cent off the back of…
The Market Online Video

Daily ASX Market Update: Materials drags market under – May 30, 2024

The ASX200 is trading down as predicted, around half a per cent.

Sports Entertainment Group jumps 15% as firm bids to buy Perth Wildcats for $40M

Sports Entertainment Group announced on Thursday it has received a non-binding offer to buy WA basketball…