Coal compensation equals millions for Muswellbrook

Almost $4 million will go to Muswellbrook Shire Council as compensation for previously unpaid rates on privately owned coal within the Muswellbrook Shire.

This is an excellent result for both the people of NSW and the residents of Muswellbrook Shire.

It is a win-win situation, as it is an injection of much needed money to Muswellbrook Shire Council, and demonstrates Local Government and State Government co-operation to the benefit of the people of NSW.

This is a way of ploughing money back into the community and funding important local projects.

In 1981 the Coal Acquisition Act transferred all private coal ownership to the State.

Subsequently, the Coal Compensation Board, a NSW Government organisation, was set up in 1985 to ascertain cases and provide compensation to the former owners of private coal and other eligible claimants who had sustained losses due to the Coal Acquisition Act.

Today’s payment represents final compensation of $3,910,760 plus interest of $8,817 for 26 coal area models in the Muswellbrook Shire.

Previous total payments of $3,591,000 at various stages over the last five years will bring the total compensation to Muswellbrook Shire Council to just over $7.5m.

Muswellbrook Shire is situated in the Upper Hunter, about 130km from Newcastle with coal mine development confined to the north eastern half of the Council area.