❓ Dr. Thomas questions the State Development Minister regarding payments to secured creditors under the Griffin Coal business continuation agreement, royalty payments, and the distribution of these payments. The Minister provides some figures and clarifies the payment structure, citing commercial confidentiality on royalty rates.
AnsweredQoN 657Legislative Assembly
QuestionView source ↗
Griffin Coal—Business continuation agreement657.Hon Dr Steve Thomasto theLeader of the House
representing the Minister for State Development:I refer to my
question on notice 172 answered on 24 June 2025 and the government's
mismanagement of the ticking time bomb that is the insolvent and foreign-owned
Griffin Coal.(1) As at 8 September 2025, how much has been paid
to secure creditors under the business continuation agreement?(2) Of the payments in (1), what is the amount
paid to each specific secured creditor?(3) Are state mining royalties being paid for the
coalmine by Griffin Coal, and, if so, who is paying those royalties and who is
receiving the royalties?(4) If yes to (3), what is the amount of royalty being
paid per tonne of coal?(5) Are coal royalties being paid to the secured
creditors as part of the business continuation agreement?
representing the Minister for State Development:I refer to my
question on notice 172 answered on 24 June 2025 and the government's
mismanagement of the ticking time bomb that is the insolvent and foreign-owned
Griffin Coal.(1) As at 8 September 2025, how much has been paid
to secure creditors under the business continuation agreement?(2) Of the payments in (1), what is the amount
paid to each specific secured creditor?(3) Are state mining royalties being paid for the
coalmine by Griffin Coal, and, if so, who is paying those royalties and who is
receiving the royalties?(4) If yes to (3), what is the amount of royalty being
paid per tonne of coal?(5) Are coal royalties being paid to the secured
creditors as part of the business continuation agreement?
AnswerView source ↗
Answered
9 September 2025
Response time
0 days
Hon Stephen Dawson replied:I thank the
honourable member for some notice of the question.(1) It is an amount of $14.8 million.(2) Payments are made to ICICI Bank Limited as the
agent for the secured creditors. The WA government is not a party to the
distribution of payments between the creditors.(3) Yes. The Griffin
Coal company is obliged to pay royalties on the coal it mines pursuant to the
state agreement and theMining Act 1978.
Royalties paid under theMining Act 1978and
under state agreements are received by the state government of Western
Australia.(4) This matter is commercial-in-confidence.(5) No. The business continuation agreement
provides performance-based payments to the secured creditors to ensure their
support for the continued operation of the Griffin Coal mine to 30 June 2026.
Griffin Coal—Business continuation agreement
honourable member for some notice of the question.(1) It is an amount of $14.8 million.(2) Payments are made to ICICI Bank Limited as the
agent for the secured creditors. The WA government is not a party to the
distribution of payments between the creditors.(3) Yes. The Griffin
Coal company is obliged to pay royalties on the coal it mines pursuant to the
state agreement and theMining Act 1978.
Royalties paid under theMining Act 1978and
under state agreements are received by the state government of Western
Australia.(4) This matter is commercial-in-confidence.(5) No. The business continuation agreement
provides performance-based payments to the secured creditors to ensure their
support for the continued operation of the Griffin Coal mine to 30 June 2026.
Griffin Coal—Business continuation agreement
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