An environmental appeal against Gina Rinehart’s GVK-Hancock Alpha coal mine has been quashed in the Supreme Court. In its ruling, Queensland’s Supreme Court has rejected an appeal to the previous decision of the Land Court, as well as an appeal to the granting of the Environmental Authority for the company’s proposed Alpha coal mine. This judgement combines the second and third court ruling in favour of GVK’s comprehensive suite of environmental assessments for the Alpha Coal Project. This legal challenge did not involve landholders in the region, it was only brought forward by anti-mining activists.
The ruling eliminated one hurdle for the $10 billion Alpha mine, rail and port project, which has effectively been put on ice until it obtains a mining permit and overcomes a lack of funding due to a slump in coal prices. The next steps involve continuing to work with Government to meet specific requirements that will allow for the grant of the Mining Lease for the Project. Once approvals are finalized, the company will execute coal offtake agreements with customers and finalise all financing arrangements in preparation for the commencement of construction.
This is a great day for Queensland as the company can now get on with taking the next step towards creating thousands of jobs for the region and State. The development of the Alpha Coal Project will create 5,000 jobs during around three years of construction and over 2,000 long-term jobs during the 30 plues years of operations.
GVK Hancock is a joint venture combining the strong energy and infrastructure portfolio of one of India’s leading business groups in GVK, with one of Australia’s leading resource companies Hancock Prospecting, which has a proud history of resource and economic development in regional Australia.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
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