The holder of the Riley Creek mine lease in Takayna / Tarkine has been convicted in Western Australia after illegal mining operations at two separate sites at Malcolm and Sandstone. The conviction in the WA Magistrates Court in December resulted in fines of $2.34 million for Gold Valley subsidiaries Gold Valley Iron Ore Pty Ltd and Odell Resources Pty Ltd, and sole director Yuzheng Xie. Mr Xie is also facing a court action by the Australian Taxation Office for an alleged $6 million in unpaid taxes.
Gold Valley purchased the controversial Riley Creek mine lease from Critica Limited, formerly known as Venture Minerals. Venture Minerals closed the Riley Creek mine after just two months of mining, just days after the first and only iron ore shipment left Burnie port. Bob Brown Foundation advised former Minister for Resources, Eric Abetz, in 2024 to refuse the transfer of the mine lease to Gold Valley, since, at that time, the Gold Valley group’s companies were under ASIC compliance investigations and had a history of phoenixing. At least three Gold Valley companies have been deregistered by ASIC, another is under administration, and yet another, which had been in administration, was wound up on 15 January.
“Minister Ellis needs to act now to protect Tasmanians from this disreputable, rogue company. Gold Valley is unfit to hold mine leases in Tasmania, and particularly in an area of World Heritage value like Takayna,” said Bob Brown Foundation Takayna / Tarkine Campaigner Scott Jordan.
“We warned the minister’s predecessor that this company was not who Tasmania should be doing business with. Now Minister Ellis is faced with the reality of this company’s conduct. Last week, the Tasmanian Government produced legislation to protect Tasmanians from the practice of phoenixing in the building industry. We say it is also important to protect Tasmanians and our environment from the same behaviours in the mining industry.”
“Like the failed Shree Minerals (renamed Catalina Resources) Nelson Bay River mine, the failed Venture Minerals/Critica Limited, now Gold Valley owned, Riley Creek mine should never have happened. Efforts should now be made to cancel the leases and commence restoration works,” said Scott Jordan.
