Council gave £15,000 to mining firm which has gone into administration

ANTRIM and Newtownabbey Borough Council says it has no plans to recoup any Direct Investment funds given to two companies which have since gone bust.

Tribe Technology Group, a manufacturer of mining and exploration equipment based in Mallusk has gone into administration following ‘sustained funding pressures’.

Originally founded in late 2019 in Western Australia by Crossgar-born Charlie King, it expanded to a manufacturing operation in Mallusk in September 2021, promising to develop the world’s first completely unmanned reverse circulation (RC) drill rig.

That move was backed by financial assistance of nearly £1.9 million from Invest NI towards the creation of 120 jobs in the area.

But according to accounts filed at Companies House, it has posted losses of more than £7 million over the last two years. It has 26 staff.

And it has emerged that Invest NI is now acting to see what clawback options there might be to recover taxpayers’ money.

Invest NI said it offered Tribe Technology £1,188,772 of support of which a total of £437,328 was drawn down.

The company also received investment through the Access to Finance portfolio, totalling £689,980.

On January 21 Tribe Tech entered administration after what it said were ‘sustained funding pressures typical of capital-intensive hardware businesses, where extended development cycles place acute strain on liquidity’.

According to an administrators’ report, its asset value ranges between £7m and £10m, with no listed valuation for the company’s IP.

Administrators are now in the process of assessing and cataloguing assets (IP, equipment, contracts) and will engage with creditors and stakeholders in due course. A sale of the firm’s earthmoving equipment or IP ahead of a full company sale is expected to follow.

Late last year, local councillors received an update on the Supporting Direct Investment Fund, the Supporting Town Centre Fund and the Workspace Development Fund - including funding given to a companies which later went into administration.

The Key Performance Indicators associated with the financial awards were redacted from the minutes of the ‘in confidence’ session of Antrim and Newtownabbey Borough Council’s Economic Development Committee in November.

A report said that Tribe Technology Group Ltd received £15,000 and Jans Offsite Solutions Ltd received £20,000 of a £58,435.66 award.

That firm also went into administration in June 2025.

The report said that Tribe Technology Group Ltd received £15,000.

The gym equipment firm BLK BOX was awarded £74,250 with £50,000 paid to date and no more payments remaining.

Hilton Templepatrick received £89,760. Jans Offsite Solutions Ltd received £20,000 of a £58,435.66 award.

The firm went into administration in June. Ashers Baking Co received £56,381.25 with £28,191.25 paid and the final amount coming in the next quarter.

PING Handling Ltd was awarded £55,000 with £41,250 paid and £13,750 remaining. Contact Marketing NI Ltd was awarded £32,494 with £24,370.50 and £8,123.50 remaining.

Ashdale Engineering received £25,000. The total paid awarded was £381,320.91 with £260,448.25 payments made and £120,872.66 remaining.

Council also operated a Strategic Town Centre Investment Fund ‘to provide financial assistance to companies making strategic investment in the Borough’s town centres, either as a new business or an indigenous business which was growing and developing.

Keneagles, which owns Castle Mall, was awarded and paid £35,000.

Meanwhile, the minutes said that the council, working in partnership with key stakeholders was ‘currently developing a network of modern, accessible, fit for purpose workspace to meet the needs of businesses today and in the future’.

LEDCOM’s Foundry House was awarded £300,200, which will be made in the last quarter of this financial year.

Transport Training Services was awarded £124,250, with £93,187.50 paid and £31,062.50 remaining.

This made a total of £424,450 with £93,187.50 paid out and £331,262.50 remaining.

The report continued: “Through the five funds, a total of £865,770.91 had been committed to date that enabled Council to deliver on its strategic growth plans.

“The SDI fund was a key vehicle of support for both foreign and indigenous business with extensive growth plans that could add economic value to the Borough by creating jobs, enhancing opportunities for residents and adding value to the local supply chain.

“The projects availing of these funds were at various stages of delivery. Members would be aware from the Economic Development Business Plan that provision had been made for continued delivery of these funds in 2025/26.

“It was proposed that a review of the funds was undertaken by officers with a report provided to committee to highlight any recommendations for future delivery.”

The report was proposed by Alliance Councillor Billy Webb and seconded by his Antrim Town party colleague Councillor Neil Kelly.

Meanwhile at the same meeting, members were ‘provided with a verbal update on a potential investment opportunity, and further developments would be reported to a future committee’.

A spokesperson from Antrim and Newtownabbey Borough Council said: “Whilst it is very disappointing that these two businesses have gone into administration, both Tribetech and Jans Composites complied with the terms of their respective funding offers from the Council, therefore no further action is planned at this time.”