The Watermark Project commenced with the granting of the Exploration Licence (EL) 7223 in October 2008. The Watermark Exploration Licence covers a 195sqkm area near Gunnedah.
The Exploration Licence was renewed in January 2012, guaranteeing the company another 5 years to explore for coal at the Watermark site.
Review of Environmental Factors
A Review of Environmental Factors (REF) and Environment Management Plan (EMP) was prepared for each separate stage of the exploration drilling. This provided a framework for assessing and managing potential environmental impacts associated with the exploration activities in the Watermark EL.
Exploration drilling for stage 4 was completed on site in July 2012. No exploration drilling is planned for 2013.
A Feasibility Study commenced in 2010 to determine whether the mineral resource at Watermark can be mined economically. The study evaluated the financial viability, along with the technical and financial risks of the project.
Director General Requirements
On Thursday 19th April 2012, Shenhua Watermark received its Director General Requirements (DGR's) which outlined the key areas that must be addressed as part of the Environmental Impact Statement. The DGR's were prepared in consultation with relevant government agencies with input from the Watermark Community Consultative Committee and NSW Farmers Association.
Lodgement EIS Adequacy
EIS was lodged 29th October 2012.
EIS Public Exhibition
EIS is on public exhibition from 28 February 2013 to 26 April 2013.