Police are investigating an overnight raid at the Beaconsfield gold processing plant that resulted in $1.5 million worth of damages.
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Police were called to Rifle Range Road about 7.15am Sunday after a front-end loader, stolen from a nearby business, was used to break into the facility.
Early investigations suggest those responsible damaged a transformer during an attempt to steal copper wiring, resulting in a $1.5 million damage bill.
"The offenders have wrapped a chain around the mass of copper cables close to where they attach to the transformer and tried to rip them free using the front-end loader," Inspector Dean McMahon said.
"This caused the transformer to buckle and damage part of the overhead cabling structure.
"This incident has caused significant damage to a local business and Tasmania Police are following up a number of avenues of inquiry."
Inspector McMahon said the front-end loader had been taken from the business and left at the scene.
He said police had been made aware of CCTV cameras around the business.
"That's an area of inquiry we are exploring at the moment," Inspector McMahon said.
Investigations are ongoing.
Anyone with information is urged to contact Tasmania Police on 131444, or Crime Stoppers on 1800 333 000.
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