NuCoal challenges ICAC process, findings
PERTH (miningweekly.com) – ASX-listed NuCoal on Friday lodged judicial review proceedings in the New South Wales Supreme Court to challenge the process undertaken by the Independent Commission Against Corruption (ICAC).
The ICAC was responsible for identifying alleged corruption in the award of the Doyles Creek licence to the project’s previous owners, prompting the New South Wales government to pass legislation to cancel the exploration licence, without compensation.
NuCoal said on Friday that the judicial review proceedings would outline the company’s position that ICAC, in making its findings and recommendations, failed to adequately consider or address NuCoal’s submissions to the body.
“NuCoal believes ICAC failed to perform its statutory duty, did not act in accordance with law and committed jurisdictional error,” the company told shareholders.
The coal developer was also obtaining advice on other possible remedies, including a constitutional challenge to the legislation passed by the state government, and international action under the US-Australian Free Trade Agreement.
NuCoal acquired the Doyles Creek tenement in 2010 from former owner Doyles Creek Mining. The tenement is estimated to contain about 512-million tons of resource, and has a provable ore reserve of 50.9-million tonnes across two target seams. The project comprises an underground mine and an associated training facility.
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