The Australian mining giant Timberland has said it will close its mills in 2019 after a decade-long slump.
The company has been grappling with declining revenue and mounting debt since 2009, when it was purchased by the Chinese company Dongfeng.
Timberland’s first mill in Western Australia closed in 2018, and its second in South Australia in 2019.
Timbers last mill in Victoria closed in October last year, and the company said it was struggling to generate enough revenue to make interest payments.
Timmerland’s board is due to meet next month to discuss the company’s future.