- Media Release
Statement on High Court decision on Mach Energy
Today’s decision by the High Court in relation to MACH Energy’s Mount Pleasant project is a further blow to Australia’s prospects of meeting continued demand for our high-quality coal from global customers.
Developing a coal mine in Australia is already difficult enough because of long approval times, lawfare by activists and high royalties and other taxes.
The Mount Pleasant Optimisation Project was approved four years ago after a rigorous assessment process that spanned several years, representing around $2 billion in inbound investment in the Australian resources sector by investors in Indonesia and Japan, two vital trading partners for Australia.
Since that approval, the Project has been subject to numerous legal appeals, forcing the proponent to seek clarity from the highest court in the land.
This decision sends a very negative signal to Australia’s trade and investment partners about sovereign risk in this market.
Australian resource companies should not be forced into a situation where well-funded legal attacks over a number of years require a High Court appeal.
These legal challenges seek to game the legal system by creating uncertainty and delay without ever having to pay costs.
Other investors in Australia’s resource sector will carefully review the outcome from today’s High Court judgement and the potential ramifications for other projects.