Acacia upholds its Qld mine lease applications

ACACIA Coal said it will seek to protect its interests in the Triumph Creek Infrastructure mining lease application (MLA), which is located over the company’s Comet Ridge project in Queensland despite Bandanna Energy’s Springsure Creek Coal subsidiary being placed into receivership.

Lou Caruana

In September 2014, Bandanna Energy Limited was placed under voluntary administration and in October 2014, its subsidiary, Springsure Creek Coal, was placed into receivership.

“Acacia continues to hold registered caveats preventing the transfer or assignment of the Springsure Creek Coal Pty Ltd MLAs, which are directly associated with the Comet Ridge project,” the company said.

“Legal proceedings are on foot in the Supreme Court and Land Court of Queensland seeking to maintain such caveats. Acacia, as the Plaintiff in the Supreme Court proceedings, has prepared its case in order to protect its interests in the Triumph Creek Infrastructure Agreements and the Springsure Creek MLAs, which are pegged over Acacia’s EPC 1230.”

The Comet Ridge MLA is progressing through the various State and Federal government departments, the company said.

“Acacia continues to liaise with, and respond to, various requests from the Queensland Department of Environment and Heritage Protection (DEHP), the Department of Natural Resources and Mines (DNRM) and the Federal Department of Environment (DOE) to advance the Comet Ridge MLA,” it said.