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Shenhua Reached Agreement with the NSW Government on the Renewal of EL7223

Publish Time:2017-07-12

Wednesday, 12 July 2017

Shenhua notes the policy of the New South Wales Government to not have any mining operations on the black soil plains and the impact this would have in respect to future mining activities on that part of its Watermark Exploration Licence EL 7223 located on the black soil plains.

Shenhua has expressed its disappointment about this policy to the NSW Government, as it would prevent its efforts to have its EL Licence 7223 wholly renewed, but has ultimately agreed, in light of the policy, to not seek to renew EL 7223 over that part of it which applies to the black soil plains.

A spokesperson from Shenhua Australia - Shenhua Watermark acknowledged the NSW Government's willingness to come to an acceptable agreement in respect of the partial renewal of EL 7223.

"Condition 48 of the EL 7223, imposed in the first renewal of the licence in 2012, prevented Shenhua from open-pit mining and underground long-wall mining the black soil plains, and while we believe that Shenhua would have been able to responsibly expand its existing Watermark Coal Mine into the area, given its extensive coal resources, we have now come to terms with the NSW Government's decision to not allow any mining on the black soil plains and appreciate its willingness to work with us to agree an acceptable financial outcome for the removal of part of our exploration licence," Shenhua's spokesman said.

Mr. Liu Xiang, Chairman of Shenhua Australia said that "Shenhua will continue to progress its Watermark Coal Mine on the remainder of EL7223 in line with the planning approvals from both the State of NSW and Commonwealth Government respectively in 2015."

Mr. Liu highlighted that "the Watermark Coal Mine has been subject to unprecedented scrutiny which has demonstrated the project can be developed in an environmentally sustainable manner. We will continue to co-operate with the NSW government in respect of progressing the project and ensuring it meets the highest environmental standards."

"We look forward to continuing our strong relationship with the local community as we progress this project for the benefit of all stakeholders."

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