Australian gold miner eyes legal options after heritage protection decision

Regis Resources

22/08/2024 01:55

MELBOURNE, Aug 22 (Reuters) - Australian miner Regis
Resources  RRL.AX  said on Thursday it is considering legal
options after writing down the value of a gold project by more
than $100 million due to a government decision aimed at
protecting Aboriginal heritage.
    Regis had planned to put a tailings dam for its A$1 billion
($675 million) McPhillamys gold project over a site 250 km (155
miles) west of Sydney in New South Wales state that included
headwaters of the Belubula river.
    Minister for the Environment and Water Tanya Plibersek
issued a finding on Friday stating the Belubula headwaters were
important to local Aboriginal groups and linked to ongoing
cultural practices of the area.
    "Because I accept that the headwaters of the Belubula River
are of particular significance to the Wiradjuri/Wiradyuri people
in accordance with their tradition, I have decided to protect
them," she said in a statement.
    Regis on Thursday wrote down the value of the project by
A$192 million and said it was assessing the government decision
and reviewing its legal options.
   The Wiradyuri Traditional Owners Central West Aboriginal
Corporation, which filed an objection to the project, declined
to comment. 

($1 = 1.4821 Australian dollars)

 (Reporting by Melanie Burton; Editing by Christopher Cushing)
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