NuCoal should not benefit from corrupt licence

MEDIA RELEASE – 15 January 2014

The Greens NSW spokesperson on mining Jeremy Buckingham reiterated his call for the O’Farrell government to implement the ICAC recommendation to cancel or expunge coal exploration licence 7270 (EL7270) at Doyles Creek after NuCoal made a submission that it should keep the exploration licence. Coal mine vertical

“No one should benefit from a corruptly granted licence, nor should local farmers and horse studs be caused to suffer because of a licence that should never have been granted,” said Greens MP Jeremy Buckingham.

“Since the exploration licence was granted on Christmas Eve 2008 there has been a stench about it.  Investors in NuCoal should have done their due diligence and known the risk.  They should not expect the NSW taxpayer to bail them out of a poor investment decision.

“There is a significant crossover between major shareholders and directors of the Doyles Creek Mining company and the shareholders and directors of NuCoal.

“Restructuring and changing the company name from Doyles Creek Mining to NuCoal is widely seen as an attempt to distance itself from the controversy surrounding the decision to grant the exploration licence.

“Changing the company name does not mean corruption can go unpunished. It certainly does not give you the right to profit and mine coal from a corruptly created exploration license.

“This licence cancellation is a test of whether Barry O’Farrell is a premier or a plodder.  The people of NSW expect the premier will act to ensure corruption is not rewarded.

“The community has been fighting this mine and dealing with uncertainty for many years.  The farmers and equine industry of Jerrys Plains should not be punished to bail out risk taking coal speculators.”

Contact: Max Phillips – 9230 2202 or  0419 444 916

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