Appeal launched against New Hope (ASX:NHC)

New Hope’s (ASX:NHC) New Acland Coal has been served with an application by Oakey Coal Action Alliance (OCAA), after the company filed documents in the High Court to appeal a previous decision allowing the coal mine expansion.

In today’s statement, New Hope said OCAA’s application seeking leave to appeal to the High Court does not change the position that there is no barrier to the Queensland Government giving final approvals for the New Acland Coal Mine Stage 3 Project, west of Toowoomba.

The company has called on the Queensland Government to immediately grant the required mining leases saying obtaining final approval is critical to ensuring the continuity of operations and help create approximately 400 new jobs in the region.

New Acland Stage 3 is expected to generate $7 billion in economic activity over the estimated 15 year life of the project.

Shares in New Hope (ASX:NHC) are trading 1.4 per cent lower at $2.14.
 
Copyright 2019 – Finance News Network

Source: Finance News Network