TheFishSite Latest News
Abalone Rush Leads to Industry Collapse
According to Pia Akerman and Verity Edwards of TheAustralian, environmentalists and concerned residents of the community at Elliston have questioned why the company was allowed to proceed with a multi-million dollar aquaculture project, and whether it should have been expected that mortality rates among the abalone would stifle investors' returns.
The company has gone into administration, leaving 1200 people who invested $43.8 million across four sites in limbo, says the news report.
TheAustralian has this week revealed several high-level connections between ABA and the ALP, chiefly linked to Mr Bolkus, a former ALP senator, and Labor-aligned lobbyist firm Hawker Britton, whose state director Stephen Halliday is a former chief of staff to SA Premier Mike Rann. One source close to the company said yesterday corporate greed had been allowed to take over, stimulating an "out of control" growth rate.
TheFishSite News Desk
Related news items:
Fish Wholesaling Industry Research
Fish farming in Paddy Fields Takes Off
Tilapia-Skin Gelatine Next for Aquafinca
VIV China Reflects Development of Chinese Industry
Protection for Island Cockle Industry
Related News Categories: Markets and Economics, Clams, Cockles, Abalone, Company/Products
More Fish Industry News
November Agriculture And Fisheries Council Agenda
Potential For Fishmeal-Free Salmon- Fish Wholesaling Industry Research
- College To Boost Fish Farming
- Consultation On Net And Trap Licences
- Fish farming in Paddy Fields Takes Off
- Tilapia-Skin Gelatine Next for Aquafinca
- VIV China Reflects Development of Chinese Industry
- Protection for Island Cockle Industry
Accessing Markets Directly To Improve Payments
