Bathurst ordered to pay L&M US$40M, plans appeal

Mon, 20 Aug 2018

By Gavin Evans Aug. 20 (BusinessDesk) - Bathurst Resources has been ordered to pay a US$40 million performance payment on coal production from its Buller operations. The company, New Zealand’s biggest coal miner, says it is “extremely disappointed” by the High Court ruling and plans to appeal. Bathurst shares fell 17 per cent to 12 Australian cents on the ASX today. Trading was halted Friday pending the release of the court judgment. The dispute stems from Bathurst’s 2010 purchase of L&M Coal’s Buller business. L&M went to court in...

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