Whitehaven gets Narrabri boost as green group appeal rejected
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The news: Shares in Whitehaven Coal climbed after the high court refused an application for special leave made by green group Environmental Council of Central Queensland (ECCQ) over two mining projects including Whitehaven's Narrabri 3.
The numbers: Whitehaven shares gained 1.5% to reach $7.60 by 12:10pm AEST.
The context: The ECCQ was seeking to appeal a judgment made by the Full Federal Court in May that dismissed review proceedings regarding the climate change effects of coal emissions in respect of the Narrabri 3 project in New South Wales.
The ECCQ first made an application to the federal environment and war minister July 2022 to reconsider the controlling provisions for the assessment of 19 coal and gas projects, including Narrabri 3.
This reconsideration request was refused by the minister in May 2023 and the Federal Court dismissed the ECCQ’s original review application in October 2023.
The ECCQ appealed this primary judgment of the Federal Court to the Full Federal Court, which unanimously rejected the appeal in May this year.
What they said: "The protracted nature of these legal challenges has led to a delay of over two years, impacting projects that will deliver jobs and investment in regional Australia," Whitehaven said in a statement.
"Considering these lengthy delays, Whitehaven looks forward to expeditious determination of the Narrabri Stage 3 Project by the Federal Minister for the Environment and Water."
The source: ASX announcement
