Compass goes into administration

ABC NT Local News

Compass Resources has gone into administration just three months after sending out its first shipments of copper sheeting from the Browns Oxide mine and processing plant near Batchelor, south of Darwin.

Compass has appointed Perth-based company Ferrier Hodgson as voluntary administrators.

The company recently said it would have to scale down operations due to the current metals price collapse and the world credit clampdown.

It is not yet clear how many jobs may be lost.

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