Media Release
1 September 2017
The NSW Government’s claim that no decision has been made on the second half of the expired Watermark exploration license have been refuted by the Shenhua company.
When the Berejiklian Government handed $262 million over to Shenhua for 51.4 per cent of the company’s exploration license, it said a decision on the other half of the license had not been made.
However, a statement made by Shenhua to the Hong Kong Stock Exchange on 12 July states it has reached an agreement with the NSW Government about a partial extension of the lease.
It states: “On 29 June 2017, Watermark Pty reached an agreement with the NSW Government in relation to partial extension of the exploration license.”
In NSW Budget Estimates today, Resources Minister Don Harwin said that the statement that Shenhua made was not correct.
Quotes attributable to Shadow Minister for Resources Adam Searle:
“The Resources Minister says one thing but the company it handed $262 million to says another; who is telling the truth?
“The NSW Government was under no obligation to pay Shenhua any money and should not do so – but especially after their exploration license has already expired. This is grotesque corporate welfare.”
Adam Searle MLC 