Thiess buys into Southland colliery

MINING contractor Thiess has paid Gympie Gold $11 million for a 10% stake in its Southland colliery, which was thrown into turmoil earlier this year when contract operator Colrok Australia was placed in voluntary administration.

Thiess, a wholly owned subsidiary of Leighton Holdings, was appointed to mine the first 3 million tonnes over two years after Gympie resumed control of the coal mine in January