Beleaguered NZ coal project hits the wallDespite overcoming sustained legal challenges by environmentalists, Bathurst Resources has announced that to “stabilise the company” it is sacking staff and indefinitely deferring production from the controversial proposed Escarpment mine in New Zealand until “the market improves.” Despite this, the company is pressing the Minister for Conservation, Nick Smith, to issue the final consent so it can proceed with mine preparation works, a move opposed by Coal Action Network Aotearoa. “We could find ourselves in a situation where the company goes under, having destroyed the beautiful Denniston Plateau – for absolutely nothing,” said CANA spokeswoman, Cindy Baxter. (Bathurst Resources, Coal Action Network Aotearoa) Joint venture partner pulls out of Abbot Point expansionLend Lease Australia, a major property developer, has withdrawn from a consortium proposing a new coal export terminal at Abbot Point. Lend Lease held a 25% stake in the project, with transport company Aurizon holding the other 75%. Two other new terminals – which have been proposed by the GVK Group and Adani – remain under active consideration. The Australian Youth Climate Coalition, representing 90,000 young people, had specifically pressed Lend Lease to abide by its environmental policies and withdraw from the project. (Bloomberg, Australian Youth Climate Coalition) |