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Brisbane, Dec 8, 2011 (ABN Newswire) - Bandanna Energy Limited (
ASX:BND) is pleased to announce that the South Galilee Coal Project Joint Venture, in which it is a 50% participant together with AMCI (50% and manager), has received the consent of the Wangan and Jagalingou People (W & J People) for all approvals needed to develop the Project and infrastructure corridor.
Representatives of the South Galilee Coal Project Joint Venture (SGCP JV) and the W & J People today signed two agreements formalising this consent: a Section 31 State Deed consenting to the granting of its mining lease and a Native Title Consent Agreement.
In consideration of this consent SGCP JV has agreed to provide certain benefits over the life of the project to the W & J People.
The agreement follows six months of negotiations between the two parties which commenced in April 2011.
The Section 31 Deed will now be submitted to the State for signing. It is expected that the State will execute the Section 31 Deed in January or February 2012.
A Cultural Heritage Management Plan Agreement between SGCP and the W & J People was agreed and executed in July 2011 and approved by the Department of Environment and Resource Management in August 2011.
ASX:BND) is pleased to announce that the South Galilee Coal Project Joint Venture, in which it is a 50% participant together with AMCI (50% and manager), has received the consent of the Wangan and Jagalingou People (W & J People) for all approvals needed to develop the Project and infrastructure corridor.Representatives of the South Galilee Coal Project Joint Venture (SGCP JV) and the W & J People today signed two agreements formalising this consent: a Section 31 State Deed consenting to the granting of its mining lease and a Native Title Consent Agreement.
In consideration of this consent SGCP JV has agreed to provide certain benefits over the life of the project to the W & J People.
The agreement follows six months of negotiations between the two parties which commenced in April 2011.
The Section 31 Deed will now be submitted to the State for signing. It is expected that the State will execute the Section 31 Deed in January or February 2012.
A Cultural Heritage Management Plan Agreement between SGCP and the W & J People was agreed and executed in July 2011 and approved by the Department of Environment and Resource Management in August 2011.
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About Bandanna Energy Limited
Bandanna Energy Limited (ASX:BND) holds 11 Exploration Permits for Coal (EPC's) with applications for a further five (EPCA's), in the Bowen and Galilee Basins in Queensland. In addition the Company has conventional oil and gas exploration interests in the Cooper Basin of South Australia and Queensland and mineral exploration licences, primarily for oil shale in Queensland. Formerly known as Enterprise Energy Limited, in early October 2008 the Company completed a transaction involving the acquisition of the issued capital of Bandanna Coal Pty Ltd, a capital raising and a 1 for 10 share consolidation. The name change to Bandanna Energy Limited reflected the future emphasis on coal, the Bandanna Formation being a well known coal bearing geological unit within the Bowen Basin.
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