NHC new hope corporation limited

To be in 'The Australian' print edition on Thursday 16 January...

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    To be in 'The Australian' print edition on Thursday 16 January 2025:

    Coal industry takes aim at taxpayer-backed activists after New Hope victory



    "Coal industry leaders have blasted the use of taxpayer funds to help with various court cases that cost New Hope Corporation more than a $100m to defend, before the company ultimately secured victory in the fight to expand a Queensland mine.

    Coal Australia chief executive Stuart Bocking said the situation faced by New Hope was “intolerable” and sent a terrible message about investment in the nation’s resources industry.

    Mr Bocking said some activist groups didn’t care whether they eventually won or lost court cases, as long as they were able to cause long delays and discourage investment.

    He said governments and government departments that put mining companies through exhaustive approvals needed to step up in court in defence of projects challenged by activist groups.

    “One of problems we face now is that many of these activist groups don’t really care whether they win, lose or draw. What emboldens them, what activates them, is delaying these projects and putting proponents to enormous costs, all in the hope that eventually shareholders, investors, funders get cold feet and decide this is all too difficult,” he said.

    Mr Bocking said it was a credit to New Hope that it had finally secured victory in the fight to expand the New Acland thermal coal mine in the Bowen Basin, but it had at a huge cost because of the lawfare waged against the company..."
 
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