Treasury has given BT Mining Ltd an “acceptable owner” status to operate.
This was the last approval required by BT Mining, a joint venture between 70% owner Bathurst Resources Ltd (ASX: BRL) and partner Talley’s Energy Ltd.
Bathurst’s managing director said this approval was the last substantive condition for the purchase of coal mines from Solid Energy Ltd.
The acquired mines are two in the Huntly-Waikato region on the North Island and the Stockton mine and its associated permits on the West Coast of the South Island.
Bathurst said settlement of the Solid Energy transaction was scheduled to occur tomorrow.
Bathurst said that in mid-June New Zealand Petroleum & Minerals (NZP&M) approved transfer of the key mining licences from Solid Energy.
“It is expected that NZP&M will approve additional exploration and mining permits immediately prior to settlement of the transaction,” the company said.