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Tag Archives: NuCoal

Asset Seizure by NSW Infuriates Americans

American institutions are considering launching international arbitration proceedings against Australia because the government of former NSW premier Barry O’Farrell expropriated US assets worth $120 million. The US institutions, which had major shareholdings in listed mining company NuCoal Resources, were among the main losers last year when the O’Farrell government cancelled ...

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NuCoal Innocent says ICAC, But Still No Compensation

With a determination handed down by Justice Stephen Rothman only last week, the Court found that ICAC acted in accordance with its common law duties, however, it also made statements that bring into question Parliament’s actions in cancelling NuCoal’s exploration license with NO compensation. The Court made clear statements about ...

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NuCoal Assets Expropriated by an Act of Parliament

  NuCoal had its major asset expropriated by an Act of Parliament in January 2014 after Operation Acacia. NuCoal doesn’t know, didn’t know and couldn’t have known if there was any corrupt activity associated with the grant of EL 7270. NuCoal deserves to be compensated for this loss. View the ...

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Unjust mining act should be repealed

Last month David Ipp sent a statement to The Australian about his December 2013 report on Operation Acacia – an unusual step indeed for a former commissioner of the NSW Independent Commission Against Corruption, who is also a former judge. The statement commented on matters that my company, NuCoal Resources ...

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NuCoal’s Loss, Shareholders Lose, Australia Loses

In December 2009, NuCoal acquired all of the issued capital of Doyles Creek Mining Pty Ltd (DCM) for $94 million and thereby Exploration Licence 7270 (EL 7270). On 23 November 2011, the NSW Government announced that the Independent Commission Against Corruption (ICAC) would be tasked with undertaking an inquiry into ...

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NuCoal investor makes plea to NSW MPs

Sean Nicholls State Political Editor The plight of a shareholder who faces losing hundreds of thousands of dollars when a controversial coal licence is torn up by the NSW government will be raised in the Coalition party room before special legislation is introduced to Parliament. Newcastle MP Tim Owen will ...

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Mum and Dad Investors Appeal Compo Decision

NUCOAL shareholders, including Hunter-based “mum and dad” investors, have appealed to the state government to reconsider its decision not to compensate them as it prepares to strip their company of its exploration licence. Newcastle MP Tim Owen will raise the issue of compensation at a Coalition party room meeting ahead ...

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ICAC investigation Operation Acacia – Pending Government decision on Doyles Creek Mining

TO: The Hon Barry O’Farrell MP Premier of New South Wales Minister for Western Sydney Level 40, Governor Macquarie Tower 1, Farrer Place SYDNEY NSW 2000, Australia Dear Premier, we are writing to you on behalf of the Crocodile Capital Fund, who is a substantial investor in NuCoal Resources Ltd, “NuCoal”, ...

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