OGL Resources Overcomes Coal Mine Delays

Coal miner and explorer OGL Resources Ltd. (ASX:OGL) announced that on May 31, the Queensland Court of Appeal confirmed that the Queensland Minister followed the correct process in renewing the company’s mining lease. The move dismisses an appeal that challenged the Supreme Court’s May 4, 2012 decision to uphold the lease.

Allan Fidlock, managing director and CEO of OGL, commented:

“We are very pleased with the outcome from the Court of Appeal. This result now enables OGL to actively engage with the local community explaining our plans for the Ebenezer Mining Lease and adjacent Bremer View Project. It has been frustrating for us and detrimental to the wider Ipswich community that these unsuccessful legal challenges have delayed for almost 18 months the advancement of these projects. In a time when the coal industry is in turmoil due to lower coal prices and higher costs resulting in significant job losses, Ebenezer remains economically viable to recommence production. We aim to become a significant employer and solid contributor to the local economy and State of Queensland for many years to come.

Click here to read the full OGL Resources Ltd. (ASX:OGL) press release.