❓ Dr. Steve Thomas questions the Cook government's $260 million grant to Griffin Coal, seeking details on drawdown amounts, dates, purposes, recipients, and oversight mechanisms. The Minister provides some drawdown details and outlines the rationale for the funding and oversight.
AnsweredQoN 6Legislative Council
Asked
27 February 2024
Member
Portfolio
State and Industry Development, Jobs and Trade
QuestionView source ↗
GRIFFIN
COAL — GRANTS
6. Hon Dr STEVE THOMAS to the minister representing the
Minister for State and Industry Development, Jobs and Trade:
I
refer to the Cook government's extraordinary $260 million
taxpayer-funded bailout of the insolvent and foreign- owned Griffin Coal
Mining Company.
(1) As of 27 February
2024, how much fiscal drawdown of the $260 million ''grant'' has
been directed to the receivers and managers of the insolvent Griffin Coal
Mining Company?
(2) On what dates
did the drawdowns occur, what were the specific amounts and for what purpose or
service rendered?
(3) To what
entity, individual, business or contractor were the payments made?
(4) Who within
government has authorisation and oversight over drawdowns of the $260 million ''grant'',
and what auditing oversight has been established to ensure rigorous eligibility
and compliance on the spend of $260 million of taxpayer money?
COAL — GRANTS
6. Hon Dr STEVE THOMAS to the minister representing the
Minister for State and Industry Development, Jobs and Trade:
I
refer to the Cook government's extraordinary $260 million
taxpayer-funded bailout of the insolvent and foreign- owned Griffin Coal
Mining Company.
(1) As of 27 February
2024, how much fiscal drawdown of the $260 million ''grant'' has
been directed to the receivers and managers of the insolvent Griffin Coal
Mining Company?
(2) On what dates
did the drawdowns occur, what were the specific amounts and for what purpose or
service rendered?
(3) To what
entity, individual, business or contractor were the payments made?
(4) Who within
government has authorisation and oversight over drawdowns of the $260 million ''grant'',
and what auditing oversight has been established to ensure rigorous eligibility
and compliance on the spend of $260 million of taxpayer money?
AnswerView source ↗
I thank the honourable member for
some notice of the question.
(1)–(4) The
state government has taken this action to protect hundreds of Collie and south
west jobs, shore up the state's electricity system and ensure Collie's
managed and sensible transition into new industries over coming years. Funding is provided for costs
essential to the ongoing operation of the mine, including labour, fuel and maintenance. Payments are provided to the
receivers and managers of Griffin Coal Mining Company.
As of 27 February 2024, $50.5 million
has been drawn down. Since the last update provided, drawdowns have consisted of $8.8 million on 17 November 2023
to cover the months of September 2023 and October 2023; $2.8 million on
6 December 2023 to cover the month of November 2023; $3.7 million on 15 December
2023 to cover the month of December 2023; and $4.7 million on 10 January 2024
to cover the month of January 2024.
The
Department of the Premier and Cabinet is the agency responsible for
administering funding to Griffin Coal. The government has engaged KPMG
to provide advice to government on mining operations and funding matters at
Griffin Coal.
some notice of the question.
(1)–(4) The
state government has taken this action to protect hundreds of Collie and south
west jobs, shore up the state's electricity system and ensure Collie's
managed and sensible transition into new industries over coming years. Funding is provided for costs
essential to the ongoing operation of the mine, including labour, fuel and maintenance. Payments are provided to the
receivers and managers of Griffin Coal Mining Company.
As of 27 February 2024, $50.5 million
has been drawn down. Since the last update provided, drawdowns have consisted of $8.8 million on 17 November 2023
to cover the months of September 2023 and October 2023; $2.8 million on
6 December 2023 to cover the month of November 2023; $3.7 million on 15 December
2023 to cover the month of December 2023; and $4.7 million on 10 January 2024
to cover the month of January 2024.
The
Department of the Premier and Cabinet is the agency responsible for
administering funding to Griffin Coal. The government has engaged KPMG
to provide advice to government on mining operations and funding matters at
Griffin Coal.
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