Headlines
Two killed in underground explosion at Australian silver mine
Published by Global Banking & Finance Review®
Posted on October 27, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on October 27, 2025
2 min readLast updated: January 21, 2026
An explosion at the Endeavor silver mine in Australia killed two workers, prompting a temporary suspension of operations and a trading halt by Polymetals Resources.
SYDNEY (Reuters) -Two workers were killed and another injured in an explosion at the recently reopened Polymetals Resources-owned Endeavor silver, zinc and lead mine in Australia on Tuesday, forcing the temporary suspension of operations.
Emergency services were called to the remote mining town of Cobar in the state of New South Wales, some 700 km (435 miles) northwest of Sydney, after a critical workplace incident, Australian authorities said.
Police said it believed a man in his 60s and a woman in her 20s died, while a second woman in her 20s was flown to the hospital for minor injuries and shock. They have not been formally identified.
Polymetals Executive Chairman Dave Sproule said he was "shocked and saddened by the tragic incident".
"The site emergency response team has been activated, and we are working with all relevant authorities. Mining operations have been temporarily suspended," Sproule said in a statement.
Polymetals on Tuesday requested a two-day trading halt on its shares.
The company did not specify what caused the explosion.
The mine had operated since 1982 but was closed for maintenance in 2020. Polymetals bought the site in 2023 and restarted mining operations this year, according to the company's website.
New South Wales Premier Chris Minns said that although mining safety has greatly improved, the deaths show that the sector must never stop being vigilant about worker safety.
"This is a heartbreaking day for the Cobar community and will be felt across the entire mining industry," Minns said in a statement.
(Reporting by Renju Jose in Sydney; Editing by Lisa Shumaker and Michael Perry)
A silver mine is a site where silver ore is extracted from the earth. Silver mining involves various processes to extract the metal, which is used in jewelry, electronics, and as an investment.
Corporate governance refers to the system of rules, practices, and processes by which a company is directed and controlled. It encompasses the relationships among stakeholders and the goals for which the corporation is governed.
A trading halt is a temporary suspension of trading in a security, often due to significant news or events that may affect the stock's price. It allows investors to assess the information before trading resumes.
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