NuCoal will be in the High Court this week fighting to have its corrupt exploration licence reinstated.
The New South Wales Government cancelled three mining licences last year after the ICAC found former mining minister Ian Macdonald and a number of associates acted corruptly when issuing the tenements.
The quashed exploration tenements include NuCoal’s Doyles Creek and Cascade Coal’s Mt Penny and Glendon Brook licences.
NuCoal has maintained it was unaware of the corrupt conduct when it purchased the tenement in 2010 and has said it will take “whatever action is necessary" to protect its shareholders’ interests.
The company will argue against the validity of the Mining Amendment Act which was ushered in by the NSW Government last January in order to cancel the licences.
Under the special legislation both companies will be forced to provide the State Government with all exploration data on the tenements and no compensation will be awarded.
NuCoal has previously stated it was owed more than $500 million as a result of the expunged licence.
Cascade Coal has launched its own proceedings in the High Court.