NuCoal weighing legal options on Doyles Creek
PERTH (miningweekly.com) – ASX-listed NuCoal was reported to be considering pursuing a compensation of at least A$500-million if its exploration licence over the Doyles Creek project was to be cancelled by the New South Wales government.
NuCoal this week provided the state government a submission on why the exploration licence should not be cancelled, stating that the report by the Independent Commission Against Corruption (ICAC) was “infected with error, both legal and factual” and ignored commercial reality.
The ICAC recommended that the project licence be revoked after it identified alleged corrupt conduct by the previous owners of the Doyles Creek project, in the form of a personal relationship with the former New South Wales Mineral Resources Minister, which led to the grant of an exploration licence despite the decision being directly opposed by the Department of Primary Industries.
NuCoal told shareholders that its submission to the state government addressed various issues around the project, including that the company and its shareholders were innocent of any wrongdoing and could not have reasonably contemplated the risk of losing the Doyles Creek project, or that the project could be tainted by corruption.
The submission further stated that it was in the public’s best interest to let the operation proceed, adding that the first 25 years of mining could deliver 100-million tonnes of coal, along with 350 jobs and over A$2.6-billion in taxes and royalties.
The company expressed its optimism that a win-win solution could be reached, and urged the state government to follow a consultative path which would afford the company the procedural fairness it deserved, and which could “avoid protracted legal cases” which would see the Doyles Creek project rendered undevelopable while the case continued.
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