Shire Sells Mining Camp for $22M, Tackles Debts

0:00A regional council in Western Australia's Goldfields region just sold a mining camp called Bluebush Village to Westgold for $22,000,000. The Shire of Cool Guardian approved the deal unanimously to tackle its massive debts, which hit $25,400,000 by the end of January. The sale also includes nearly $2,000,000 for nearby undeveloped land. This move comes after a show cause notice from the local government minister last year, giving the Shire 12 months to fix its finances or face. Options like a merger with a neighboring city. The council followed its acting CEO's advice that Westgold offered provided the best value. Shire President Paul Wilcox says the money will pay down debts and spark a full review of their long term financial plan. He stressed, it's a big step towards stability and rebuilding community trust, though more work lies ahead. The local government minister has praised the Shire's new leadership for hitting early milestones with monthly financial reports, but warns there.

1:05Only halfway do the recovery timeline. Meanwhile, Westgold plans to use the camp for its 400 workers at the Beta Hunt gold mine, fixing their current spread out housing setup. This fits their huge regional push, including a $2.2 billion merger last year and a recent $145 million dollar plan. Expansion nearby. With this deal, both sides gain ground for future growth in the gold fields. That wraps Adelaide News today, brought to you with AI. I'm Cory with the story.