BHP Billiton notes today’s announcement by the New South Wales Government regarding its approach to future mining activities in the region where the Caroona Coal Project is situated.
BHP Billiton has agreed to cease progression of the Caroona Coal Project, through the cancellation of Exploration Licence (EL) 6505.
BHP Billiton Minerals Australia President, Mike Henry, acknowledged the NSW Government’s willingness to come to an acceptable agreement in respect of the cancellation of EL6505.
“While we believe that Caroona would have been developed responsibly, we accept the Government’s decision and appreciate its willingness to work with us to agree an acceptable financial outcome for the cancellation of our exploration licence,” Mr Henry said.
“The Caroona Coal Project was studied extensively and developed cautiously for almost 10 years. We carried out extensive planning to ensure there would be no mining under the black soil plains, consistent with the conditions contained in our Exploration Licence.
“It was also subject to extensive scientific research which showed the proposed project could have been developed in an environmentally sustainable manner.
“We would like to express our sincere appreciation to the local community for working closely with us over the past 10 years through the project’s lengthy consultation process.”
For more information, please see our news release.