❓ Opposition questions the government's handling of financial assistance to Griffin Coal, focusing on the likelihood of recovering funds and the definition of a 'fair price' for coal. The government defends its actions, stating recovery will come from new commercial arrangements, not Griffin Coal directly.
AnsweredQoN 31Legislative Council
QuestionView source ↗
GRIFFIN COAL
31. Hon Dr STEVE THOMAS to the minister representing the
Minister for State Development, Jobs and Trade:
I
refer to the Minister for State Development, Jobs and Trade's statement
to the Legislative Assembly yesterday on the extraordinary payment made by the government
to the administrators/receivers of Griffin Coal Mining Company.
(1) Was the
minister correct in his original media release of 20 December last year that he
would seek to recover the money from Griffin Coal?
(2) Was the
Premier correct the next day when he said the government was unlikely to
recover any of the taxpayer cash handed to Griffin Coal to keep the teetering
miner operational over the summer, labelling the bailout ''payments that
we just need to make''?
(3) Was the
minister correct yesterday when he again claimed the payments ''will be
recovered from the operation's revenue once commercial arrangements are
resolved''?
(4) Given that Griffin Coal is $1.4 billion in debt and
still losing over $50 million a year, what chance is there that commercial
arrangements will suddenly reverse the situation and see the government get its
money back?
(5) What is the
government's definition in dollar terms of ''a fair price for
coal'', as identified in the statement yesterday?
31. Hon Dr STEVE THOMAS to the minister representing the
Minister for State Development, Jobs and Trade:
I
refer to the Minister for State Development, Jobs and Trade's statement
to the Legislative Assembly yesterday on the extraordinary payment made by the government
to the administrators/receivers of Griffin Coal Mining Company.
(1) Was the
minister correct in his original media release of 20 December last year that he
would seek to recover the money from Griffin Coal?
(2) Was the
Premier correct the next day when he said the government was unlikely to
recover any of the taxpayer cash handed to Griffin Coal to keep the teetering
miner operational over the summer, labelling the bailout ''payments that
we just need to make''?
(3) Was the
minister correct yesterday when he again claimed the payments ''will be
recovered from the operation's revenue once commercial arrangements are
resolved''?
(4) Given that Griffin Coal is $1.4 billion in debt and
still losing over $50 million a year, what chance is there that commercial
arrangements will suddenly reverse the situation and see the government get its
money back?
(5) What is the
government's definition in dollar terms of ''a fair price for
coal'', as identified in the statement yesterday?
AnswerView source ↗
I thank the Leader of the Opposition
for some notice of the question. The following answer has been provided to me
by the Minister for State Development, Jobs and Trade.
(1) Consistent
with the media statement of 20 December 2022, it is the government's
intention to recover the funds provided to Griffin's managers and
receivers as part of any longer-term commercial arrangements. It is intended
that the payments will be recovered from additional revenue as a result of
increased prices paid for coal when new commercial arrangements are in place.
(2) The Premier
accurately stated —
I suspect these payments are payments
that we just need to make �
Griffin Coal is not in a good
financial position but we need to ensure that our electricity system continues
to operate so we will do that.
(3) The member's
question is misleading and paraphrases the minister's comments. The
minister accurately said —
It is intended that any funding
provided by government to stabilise Griffin Coal will be recovered from the
operation's revenue once commercial arrangements are resolved.
The PRESIDENT : Leader of the
Opposition.
Hon Dr STEVE THOMAS : I note
the minister did not bother to answer the last parts of the question.
Hon STEPHEN DAWSON : I am
sorry. President, I will continue.
The PRESIDENT : The Minister
for Emergency Services continuing.
Hon STEPHEN DAWSON : The
answer goes on —
(4) It is not
expected that the payments will be recovered from Griffin Coal but will be
recovered from new commercial arrangements that are yet to be resolved and put
in place.
(5) A fair price
for coal is an amount that covers the production cost of coal as well as other
requirements, including workers' entitlements and rehabilitation.
for some notice of the question. The following answer has been provided to me
by the Minister for State Development, Jobs and Trade.
(1) Consistent
with the media statement of 20 December 2022, it is the government's
intention to recover the funds provided to Griffin's managers and
receivers as part of any longer-term commercial arrangements. It is intended
that the payments will be recovered from additional revenue as a result of
increased prices paid for coal when new commercial arrangements are in place.
(2) The Premier
accurately stated —
I suspect these payments are payments
that we just need to make �
Griffin Coal is not in a good
financial position but we need to ensure that our electricity system continues
to operate so we will do that.
(3) The member's
question is misleading and paraphrases the minister's comments. The
minister accurately said —
It is intended that any funding
provided by government to stabilise Griffin Coal will be recovered from the
operation's revenue once commercial arrangements are resolved.
The PRESIDENT : Leader of the
Opposition.
Hon Dr STEVE THOMAS : I note
the minister did not bother to answer the last parts of the question.
Hon STEPHEN DAWSON : I am
sorry. President, I will continue.
The PRESIDENT : The Minister
for Emergency Services continuing.
Hon STEPHEN DAWSON : The
answer goes on —
(4) It is not
expected that the payments will be recovered from Griffin Coal but will be
recovered from new commercial arrangements that are yet to be resolved and put
in place.
(5) A fair price
for coal is an amount that covers the production cost of coal as well as other
requirements, including workers' entitlements and rehabilitation.
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