Polymetals announced a pause in trading to the ASX on Tuesday morning, which is expected to last as late as Thursday.
In a letter requesting the ASX grant the pause, Polymetals Company Secretary John Haley said the company would use the time under the trading halt to prepare an announcement detailing the circumstances leading to the explosion, and its implications for shareholders.
Two people have died in an explosion at the Endeavor Mine at Cobar, NSW (file photo).Credit: CBH Resources
Polymetals Executive Chairman Dave Sproule said they were “shocked and saddened by the tragic incident”, and promised to “support all our people, family and friends as we navigate through this difficult time”.
Bob Timbs, president of the NSW Mining & Energy Union’s South West District, suggested the incident was caused by a “catastrophic failure of a safety system” that “should not have happened”.
“We will do everything within our power, once we’ve dealt with and supported the families and mine workers in the community, to find out what happened and make sure that it never happens again,” Timbs said.
“There are two mine workers who aren’t returning home today, and there’s loved ones out there that will be grieving the loss.”
Mining operations have been temporarily suspended at the Endeavor site, which like most large Australian mines, operates 24 hours a day, seven days a week.
Workers at the mine have been left traumatised and shocked by the fatal explosion, according to NSW Mineworkers’ Alliance spokesperson Tony Callinan, who said it would “send shockwaves” through the industry.
“We will leave no stone unturned in identifying what has occurred here,” Callinan said.
“This is a tragic reminder that underground mining is a dangerous job.”
NSW Natural Resources Minister Courtney Houssos said it was a “heartbreaking day” for the Cobar community, as it comes to grips with the “tragic” effects of the explosion.
“Everyone who goes to work has the right to come home,” Houssos said.
“While safety protocols and procedures have greatly improved in mining, these deaths are a sobering reminder of why we need to always remain vigilant to protect workers.”
NSW Minerals Council chief executive Stephen Galilee said tens of thousands of miners would be grieving the two people killed in this “tragedy”, which he said highlighted the “hazards faced” in the industry.
The NSW Resources Regulator, the independent regulatory authority for safe and responsible mining, confirmed it was investigating the incident, and that emergency services remained on the scene.
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