Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Minister should halt Denniston Plateau mining

Minister of Conservation should halt Denniston Plateau mining – Coal Action Network

Coal Action Network Aotearoa today called on the Minister of Conservation, Nick Smith, to not issue Bathurst Resources the DOC consent it needs to enter and operate its planned mine on the Denniston Plateau, in light of the company’s terrible financial state.  

Bathurst has announced today that it is making 29 workers redundant and that it’s not going to mine coal at Denniston until international prices have recovered. However, it intends to go ahead and set up everything else on the plateau in readiness for mining.

This could include the removal of the “overburden” – the beautiful, biodiverse-rich landscape.   

“Bathurst is in a terrible financial state.  Like Solid Energy, it’s facing a ‘perfect storm’ of tanking coal prices and a strong NZ dollar – quite a different situation from 2008 when the company started sniffing around the West Coast for coking coal,” said Cindy Baxter of CANA.

“There is no way this company should go ahead with wrecking the plateau, only to sit and wait until the coal price improves, something international commodities commentators are not forecasting to happen any time soon, due to an oversupply in the market.”

“We could find ourselves in a situation where the company goes under, having destroyed the beautiful Denniston Plateau – for absolutely nothing.  The Minister of Conservation needs to step in and refuse to let the company do this,” she said.

“There is no way Bathurst will be able to front up any time soon with the $22 million promised to DOC in the deal Mr Smith made with the company.”

The latest statement from BRL shows the company is having to restructure to keep afloat, and is to shed 29 jobs, instead of providing the 225 jobs it keeps promising – the 225 jobs that would only be there if it ramped up production to one million tones a year.

The price of coking coal has tanked, miles below the $165 the company needs to even break even, let alone make any profit. This break-even price was confirmed in a “caucusing agreement” between Bathurst and Forest & Bird at the Environment Court in November 2012, when they agreed that "a minimum expected price for the project to proceed is perhaps US$190.”

See also CANA’s recent blog on Bathurst’s perfect storm.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

#Kexit: Prime Minister John Key Announces Resignation

Prime Minister John Key has announced that he’s resigning as Prime Minister in seven days’ time. He made the unexpected announcement at a 12.45 press conference at Parliament, called with less than an hour’s notice.

“It has been an enormous privilege to be Prime Minister of New Zealand, and these last eight years have been an incredible experience. Throughout these years I have given everything I could to this job that I cherish, and this country that I love...“ More>>

Gordon Campbell: On The Key Resignation

The resignation of John Key is one thing. The way that Key and his deputy Bill English have screwed the scrum on the leadership succession vote (due on December 12) is something else again. It remains to be seen whether the party caucus – ie, the ambitious likes of Steven Joyce, Judith Collins, Paula Bennett, and Amy Adams – will simply roll over... More>>

 

Q+A: Labour's Michael Wood Wins Mt Roskill

Labour’s Michael Wood, who last night won a 6,000 vote majority in the Mt Roskill by-election, says the reason for the win was simple, clear messaging... More>>

ALSO:

Gordon Campbell: On Anne Tolley’s Callous Folly

Last week’s conflict between Social Development Minister Anne Tolley and District Court judge Carolyn Henwood illustrated quite a few of the flaws in the system. More>>

ALSO:

Members’ Bills: Greens' Domestic Violence And Loans Bills Pulled From Ballot

Jan Logie’s Domestic Violence-Victims' Protection Bill introduces workplace protections for victims of domestic violence, including allowing victims to request paid domestic violence leave for up to 10 days... Gareth Hughes’ Bill allows Kiwis with student loans to defer their student loan repayments into a first home savings scheme. More>>

ALSO:

IPCA: Police Did Not 'Deliberately' Use Pepper Spray On 10-Year-Old

"When spraying the man, the officer did not properly consider the necessity of using pepper spray in a confined space, the likelihood that it would affect the other innocent passengers or the fact that he was using a more powerful spray." More>>

ALSO:

Donor Bill Passes: Full Income Compensation For Live Organ Donors

Unanimous cross-party support for the Compensation for Live Organ Donors Bill represents a critical step in reducing the burgeoning waiting list for kidney donations, according to Kidney Health New Zealand chief executive Max Reid. More>>

ALSO:

Earthquake Response: Emergency Legislation Prepared

Three new Bills have been drafted in the wake of the magnitude 7.8 earthquake on November 14 to ensure the government can enable affected communities to respond quickly and efficiently. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
More RSS  RSS News AlertsNews Alerts
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news