June 11, 2020
Moreton Resources, the company which has been planning to develop an open-cut coal mine on the outskirts of Kingaroy, has gone into voluntary administration.
Administrators Deloitte informed the ASX of the move in a statement on Wednesday.
“The administrators will undertake an urgent assessment of the group’s business and financial position to determine the future of the business and its assets, and to ultimately inform a recommendation to creditors,” the statement said.
“The group’s creditors will receive further updates from the administrators in due course.”
ASX shares have been suspended from trading since March 16.
Company secretary Tristan Garthe, who was appointed a Director in October 2019, resigned on May 26.
Opponents of the mine fear the move may not be the end of the saga.
Kingaroy Concerned Citizens Group spokesperson John Dalton said while he was happy the immediate threat was gone, he was concerned because there was nothing stopping another company taking up the Mineral Development License that still looms over the land.
“This company at least won’t be one that will ever mine here, but we’re also mindful the tenement can be acquired by other companies, and that’s why we need strengthened State planning laws,” he said.
“Something needs to be done to prevent other companies doing to us what Moreton has done.
“The sheer volume of public opposition to this mine shows the public expects laws that enshrine common sense in the thoughtful use of our public and natural resources, which in this case is our farmland.”
Lock the Gate Queensland spokesperson Vicki Perrin called on the State Government to make changes to the Regional Planning Interest Act so coal and gas projects could no longer be proposed for prime agricultural land and environmentally significant areas.
“The Kingaroy community should not have to face any more uncertainty and it’s time the Palaszczuk Government stepped up and permanently protected our prime farming and cropping areas,” she said.
“This community, and many others like it, are tired of fighting these inappropriate developments.
“We call on Mines Minister Anthony Lynham to extinguish the remaining MDL and urgently amend regional planning laws so that mining operations are prohibited on prime farming and cropping areas.”
- External link: ASIC Published Notice
- Moreton Confirms Withdrawal To ASX
- Moreton Withdraws Coal Mine Application
- Moreton Resources Notches Up $26m Loss
- No Plans To Sell Assets
- Elks Quits Moreton Board
- Community Splits Over Coal Mine
- $1m Funding Boost For Moreton
- Moreton Predicts First Profits
- Moreton Announces $20m Loss
- Moreton Secures $8.5m Debt Funding
- Moreton Defends Cash Flow Query
- Let Moreton’s Licence Expire: KCCG
- Moreton Weighs Up Sale Of Mine
- Elks Sets Date To Quit As CEO
- Moreton Turns $10,000 Into $13.3m
- KCCG Unveils Coal Rail Maps
- Moreton Delays Release Of EIS
- Protest Group Targets Rail Crossings
- Moreton Says ‘Selective Mining’ Would Extract Cleaner Coal
- Coal Mine Decision ‘By Next Christmas’
- SB Coal Project ‘Well-Advanced’
- Moreton Outlines Plan To Pay Off Tax Debt
- Moreton To Secure Cash Flow
- Taabinga Declared A Coal-Free Community
- Moreton Aims For Coal In 2019
- Moreton ‘Praises’ KCCG Art Project
- Mine Fight Comes Alive With Art
- Moreton Gives Council Coal Mine Update
- Photo Shoot Captures Coal Mine Site
- KCCG Says Moreton Statement Misleading
- Moreton Aims For Rail Corridor
- Moreton Presses On With Mine Plan
- Moreton To Push Ahead With EIS
- Moreton Tax Bill Still In Limbo
- KCCG To Ramp Up Campaign
- Elks’ Role Cut Back Again
- Moreton Appoints Project Manager
- Moreton Starts Mine Approval Process
- KCCG To Make Mine Submission
- Moreton Applies For Mining Licence
- Greens Back Kingaroy Mine Protest
- KCCG Calls For Coal Permit Buyback
- Elks To Resign As Moreton CEO
- Another Step For Moreton Resources
- KCCG Demands Pre-Mining Health Tests
- Crowd Votes Down Mine … Again
- Moreton Faces $8m Tax Bill
- KCCG To Hold Second Anti-Mine Forum
- KCCG Plans Second Forum
- Nannas Take To The Highway
- Kingaroy Coal Mine To Require Federal Approval
- Moreton Looks For Silver Lining
- Between A Rock And Taabinga Village
- Moreton Re-issues Update
- Market Awaits Moreton News
- Moreton Predicts 400-600 Jobs At Mine
- Airport Blocks Cut From Coal Permit
- KCCG Rejects Phone Poll
- Phone Poll Backs Mine: Moreton
- Moreton Takes Mining Plan Out To The People
- KCCG Will Speak To Council
- Nannas Knit Against Mine
- KCCG Meets With State Government
- Coal Mine Fight Spreads
- Moreton Resources Unveils Mine Partner
- Meetings To Discuss Mine
- Moreton Plans To Start Seeking Permits
- Moreton’s Coal ‘Too Expensive’
- Kingaroy Coal Mine? No Way!
- Public Meeting To Discuss Coal Mine
- Stanwell Still Says ‘No’
- Moreton Releases Mine Study Results
- Moreton Resources Eyes Rail Link
- Moreton Buys More Resources
- Mining CEO Talks To Council
- KCCG Sees No Future For Mine
- Green Light For ‘Next Step’
- Moreton Board To Consider ‘Next Step’
- Moreton Resources Splits Off South Burnett Holdings
- Moreton Resources Extends Licence
- Controversial UCG Plant Vanishes
- UCG Plant Starts To Disappear
- Moreton To Begin Mine Concept Study
- Moreton Responds To MP’s Comments
- Moreton Aims To Press On
- Stanwell ‘Rejecting Billions In Savings’
- Stanwell Rules Out Moreton Coal
- ‘Enough Coal For 30-Plus Years’
- Concept Study Next Step For Proposed Coal Mine
- Moreton Triples Coal Estimates
- Coal Mine Review Delayed To July