Tahmoor Colliery

The Hon. V.A. TARZIA (Hartley—Leader of the Opposition) (14:15): My question again is to the Premier. Has the government sought and received any assurances from GFG that proceeds from the sale of its interest in the Tahmoor coalmine will flow to South Australian creditors and, if so, when?

The Hon. P.B. MALINAUSKAS (Croydon—Premier) (14:15): Mr Gupta released today—or GFG released—a statement late last week making clear that it has the intention to sell its Tahmoor coal asset. The foreshadowed figure in the public arena is somewhere in the order of $600 million, according to GFG. The state government has conducted our own analysis in conjunction with the Steel Task Force and the experts that we have at our disposal to make an independent assessment on the value of that asset. There is no doubt that that asset is worth a considerable sum of money—hundreds of millions of dollars—which, of course, is a good thing in the event that that sale were to transpire and at some point in the future moneys were to flow to creditors.

Certainly there has been an intimation from GFG that the funds raised from any such sale would help relieve its financial position and we have made consistently clear to GFG, over a long timeframe now, that it is the government's expectation that GFG should pay its creditors immediately, particularly those creditors on the ground in Whyalla that are so dependent upon that business. Those debts are due and when businesses have debts they should pay them as and when they fall due as they are legally obliged and we continue to reiterate that to GFG in every forum, whether it be here in the parliament or whether it be when meetings are held with leaders at GFG in person, as has occurred on the weekend.