Gupta's financial woes threaten Australian jobs, operations

Sanjeev Gupta's GFG Alliance faces mounting financial troubles in Australia, with mine closures and smelter pauses leaving workers in limbo and raising concerns about the company's future. Hundreds of workers at a New South Wales coal mine remain stood down, and a Tasmanian smelter is set to halt operations, due to financial difficulties. The company is struggling to secure funding, and governments are being urged to intervene. The situation follows the effective stripping of Gupta's ownership of South Australian steelworks, and a UK fraud investigation. Experts describe the situation as a "house of cards," questioning the sustainability of Gupta's business model.