Company loses out on Ebenezer
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."
She said the State Government approved two leases totalling about 9500 hectares for open cut coal mining that would gouge through the Bremer Valley.
Both of these leases now will not proceed after mining company OGL Resources also failed to raise the capital to go ahead.
In 2013 the fight to stop the Ebenezer coal mine went to the High Court.
The legal challenge was against former Queensland Mining Minister Stirling Hinchliffe' renewing the mining lease for Ebenezer for 15 years.
The challenge was dismissed in the Supreme Court in May of that year.
But three months later, OGL managing director and chief executive Allan Fidock resigned after announcing OGL had failed to raise the capital to operate the Ebenezer coalmine.
Only a month earlier, OGL had announced plans to spend $50 million on the site and mine 13 million tonnes of coal over the following decade, creating 70 jobs.