Bingo Industries faces EPA fine

Company News

by Kathy Skantzos

Waste management company Bingo Industries (ASX:BIN) is facing a fine from the Environmental Protection Agency (EPA) regarding the company’s licensing limits at Bingo’s Minto facility.

The EPA has indicated there will be separate court proceedings in relation to any monetary penalty that may be imposed as a consequence of the licence breach.

The EPA has not informed Bingo of what the fine will be, however Bingo does not expect that any fine imposed will be material to earnings.

Bingo said it has been operating above capacity at Minto on the understanding that a state significant development application it applied for in 2016 would be approved, which would increase processing capacity at the facility, and said it has had ongoing dialogue with the EPA in regards to the application.

A decision for the state significant development application is expected in the first quarter of the 2018 calendar year.

Shares in Bingo Industries (ASX:BIN) are trading 0.8 per cent higher to $2.47.
 

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.