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Shenhua yet to Lodge Mining Application for Watermark Coal Project

Coal News - Published on Thu, 28 May 2020

Image Source: Shenhua Watermark Coal Project
Northern Daily Leader reported that Chinese state-owned Shenhua Watermark Coal Pty Limited has just over a month to apply for a mining licence for its Watermark coal project near Breeza, out of Gunnedah. The mining licence application comes at a cost of AUD 200 million and is necessary if the company is to avoid triggering a clause that will allow the state to terminate the proposal.

When the NSW government renewed Shenhua's exploration licence on July 19, 2018, it included a cancellation clause which allows government to effectively terminate the project on June 30, 2020, if the company fails to bring the project to production stage which it does by applying for a mining licence. The clause also includes a 15 per cent per year increase in the mining licence fee.

Should Shenhua successfully apply, construction on the mine cannot begin until all its environmental management plans are ticked off. Shenhua is yet to submit its water, biodiversity, rehabilitation and koala EMPs to the NSW government. Some of the EMPs have been revised as many as five times.

Source :

Posted By : Yogender Pancholi on Thu, 28 May 2020
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