Kagara Ltd

[1] In June 2002 the company was reported to have started construction and waste pre-stripping at its $54m Mt Garnet zinc project in northern Queensland.

[7] By January 2010 744 tonnes of development ore had been produced from the deposit, grading 4.4 per cent nickel, and was awaiting treatment.

[12] That month, the company announced plans to spin off its gold operations, but these were put on hold due to market conditions.

[13] In April 2010 Kagara announced the terms of a spin-off of its gold assets, to be named Mungana Goldmines, valued at A$149 million.

[17] In October 2010 Kagara made a bid to acquire Copper Strike, a neighboring company in north Queensland, for about A$14.2 million.

[25] However, by 2012 Kagara had been hit hard by the stronger Australian dollar, lower commodity prices and high labour costs.