Newspaper article The Queensland Times (Ipswich, Australia)

Company Loses out on Ebenezer; Mining Opponents Delighted after Coalbank Fails to Raise Money to Buy Mine Site and Start Operating

Newspaper article The Queensland Times (Ipswich, Australia)

Company Loses out on Ebenezer; Mining Opponents Delighted after Coalbank Fails to Raise Money to Buy Mine Site and Start Operating

Article excerpt

MINING company Coalbank has ditched its plans to reopen the Ebenezer coal mine on Ipswich's western outskirts after failing to raise cash to buy the mine.

Coalbank agreed last year to buy the project from Zedemar Holdings, including 650ha freehold land and infrastructure.

Zedemar allowed two extensions for Coalbank to meet conditions but Coalbank says it has been unable to satisfy them.

Coalbank chairman Anthony Chan made the announcement on the company's web site.

Opponents of the mothballed mine reopening welcomed Coalbank's cash failure.

Shirley Doyle of the Rosewood District Protection Organisation (RDPO) lives near the mine and has long campaigned for the mine's closure.

"Coalbank and Zedemar Holdings never had a social licence to proceed with this mine," Mrs Doyle said.

"We continue to call on the government to extinguish coal licences and leases throughout the Bremer Valley and Ipswich region to ensure certainty for our livelihoods, our farmlands, health and well-being. …

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