The NSW Government has called for expressions of interest in the sale of the Cobbora Holding Company.
The government failed to secure a buyer during market soundings last year despite there being several potential bidders for the project near Dunedoo.
“After the previous market sounding for the mine in 2014, the NSW Government confirmed that it would continue to consider a range of options for the Cobbora Coal Mine,” a government spokesperson told the Mudgee Guardian.
“The government has since undertaken further analysis of market conditions and possible opportunities for Cobbora.
“Requests for Expressions of Interest were consequently reopened on July 20, 2015 and will close on August 11, 2015.”
“The government will consider responses to the Request for Expressions for Interest for Cobbora before deciding next steps.”
An advertisement in the Financial Review said the NSW Treasury had established a process to “identify appropriately qualified parties with an interest in this opportunity.”
It’s estimated $1.5 billion is required to develop the open-cut mine that could produce up to 12 million tonnes of thermal coal a year.
The project was intended to supply coal for state owned companies that were later privatised.
In 2013, the government announced it will not construct or operate the mine that would be leased or sold.
A weak coal market has been blamed for the move and its lack of offers.
Source: Elle Watson, Mudgee Guardian, Friday 24 July 2015
