Latest Financial Distress News

Iluka Resources posted a net loss of $288 million in 2025 amid subdued mineral sands demand but progressed key projects including the Balranald mine commissioning and Eneabba rare earths refinery construction.

Bowen Coking Coal Limited has reported a challenging quarter ending December 2025, marked by cash outflows, a default on its senior secured debt, and ongoing voluntary administration.

Australian Pacific Coal Limited’s Dartbrook Mine has entered receivership, with the company now assuming no residual value in the asset. Despite this, AQC maintains solvency and continues to explore its options amid ongoing financial challenges.

Freedom Care Group Holdings has revealed ongoing financial distress with key subsidiaries entering liquidation and persistent delays in payments from the NDIA, leaving the company with a diminished cash reserve and a strategic focus on asset sales and cost reduction.

Freedom Care Group Holdings has placed its main operating entity into administration following a sharp decline in cash receipts linked to delayed payments from the NDIA and an ongoing audit. The company’s cash balance dropped significantly, prompting urgent restructuring efforts.

Mineral Commodities Limited has made its CEO role redundant following the appointment of voluntary administrators, signalling deep restructuring ahead.

Mineral Commodities Limited and key subsidiaries have entered voluntary administration, with McGrathNicol appointed to explore sale or recapitalisation options. The Skaland Graphite mine operations in Norway remain unaffected, but shares are suspended pending creditor meetings.

Assetora Limited has appointed external administrators following a contested debt claim by SILC, signaling a complex financial and legal standoff. The company disputes the debt but is prepared to pay to avoid further costs while continuing to challenge the claim.

Assetora Limited has received a statutory demand for nearly $1 million from Specialised Investment and Lending Corporation, which it is vigorously disputing and legally challenging.

ChemX Materials Limited has emerged from voluntary administration following a Deed of Company Arrangement, while securing a significant Japanese patent for its HiPurA® High Purity Alumina process.

Capricorn Metals Ltd has had its CMMO securities class suspended from ASX trading pending regulatory compliance, raising questions about the company’s next steps.

Pro-Pac Packaging has entered voluntary administration, leading to the redundancy of its CEO and an extended timeline for creditor meetings in Australia and New Zealand.