Venture Minerals has suspended operations at the Riley Creek iron ore mine in Tasmania’s west.
Venture Minerals received full legal and regulatory approvals and secured finance for the project last year.
Last month the company halted pre-production because of the falling iron ore price.
Production on the mine still had not started.
The company’s managing director, Hamish Halliday, cited risks associated with the ongoing appeals against the project and an unfavourable economic environment as the major reasons.
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