A Tasmanian manganese smelter operator says it will fight court proceedings to wind it up by the corporate regulator.
The Australian Securities and Investments Commission (ASIC) filed an application in the Supreme Court of NSW to wind up Liberty Bell Bay (LBB) over failures to lodge annual financial reports with them.
But the company has vowed to fight the move in a brief statement released today (Friday).
“LBB remains committed to finalising the submission of its financial statements to ASIC as soon as possible, the company says.
“It continues to pursue a sustainable future for Australia’s only manganese smelter to protect 216 Tasmanian jobs and will resist any application to wind up the business.”
In a statement, ASIC says no financial reports were filed for five years, including 2020-21, 2021-22, 2022-23 and 2023-24.
In June 2025 ASIC says it was given a court order to enforce compliance (click here: 25-113MR) but LBB failed to comply with the order (click here: 25-141MR).
ASIC also claims LBB failed to lodge reports for the 2024-25 year.
TASMANIAN PRODUCTION WOES
“Liberty Bell faced a challenging 20 months due to the force majeure declared by its main ore supplier, a significant deterioration in market conditions worldwide, and rising costs,” a company spokesperson says.
“Production is currently paused.”
The company says workers will remain on site and on regular shifts for maintenance and commissioning work and that all employees are continuing to be paid.
To read the ASIC application, click here.
In late January, the Tasmanian Government took control of the company’s ore supply after LBB took a reported $20m loan last year to restart operations which did not happen.
LBB is owned by the GFG Alliance, which also owned the Whyalla Steelworks in South Australia (via OneSteel Manufacturing which is in external administration), InfraBuild Australia and Tahmoor Coal in NSW (external administration). Source: ASIC
