Gloucester Resources Limited (GRL) has relinquished an exploration licence (EL) and is under new ownership.
The company that had pushed for the rejected Rocky Hill open cut coal mine on the edge of Gloucester, withdrew the application of renew for EL6523, which compassed the site of the controversial project. The action was outlined in the last minutes of the Gloucester Exploration Project Community Consultative Committee (CCC) meeting held on June 4, 2021. GRL had applied to renew EL6523 and EL6524 in March 2020 along with EL6563 in May 2020. The company withdrew its renewal application for EL6523 on April 20, 2021 inline with its expiration.
The decision followed the NSW Government's Future of Coal policy released in June 2020 that declared open cut mining prohibited by State Environment Planning Policy in the area covered by EL6523. It's the second time the company has relinquished exploration rights in the Gloucester basin, handing back approximately a six square kilometres section of EL6523 to the north of the proposed Rocky Hill mine site as part of its 2018 licence renewal.
GRL started selling its land holdings in the Gloucester basin at the end of 2020, and according to the CCC meeting minutes, all but one of its properties were to have been sold by the end of the 2021.
Another new development is the change of ownership with GRL passing on to Mineral X Pty Ltd on the latter part of 2021. The company is based in Victoria and is part of the Nonmetallic Mineral Mining and Quarrying Industry. It's principal director is Matthew Morgan, a founding and now former director of Ausmex Mining Group. According to businessnews.com.au, Mr Morgan has over 20 years mining experience. His management experience includes roles in BHP Billiton, Rio Tino and Theiss. He was the exploration manager for Coalworks before the 2014 takeover by Whitehaven Coal.
At the time of print, Mr Morgan had not revealed his plans for the two remaining ELs but has indicated that a CCC meeting will be organised shortly as a way of introducing Mineral X to the community.
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