Chatham Rock Phosphate Ltd. said Dec. 13 that it paid C$708,000 to the Environmental Protection Authority after accepting liability for the costs charged by the regulator over a mining consent application the company lodged in 2014.
The miner had said it expects to lose High Court proceedings over the disputed charges after a judge rejected its application for a judicial review.
According to Chatham, the amount it paid was substantially offset by funds placed in a trust account pending the resolution of the dispute and the charges left a net impact of only C$254,000 on its operational cash flows. The company expects to formally conclude the court proceedings shortly.
