Wollongong Coal Limited (ASX Code: WLC) is an Australian mining business which owns and operates Russell Vale Colliery and Wongawilli Colliery in the Southern Coalfields Region of New South Wales.
The majority of Wollongong Coal shares are owned by Jindal Steel & Power (Mauritius) Limited. Jindal Steel & Power, a company listed on the Indian stock exchange, owns 100% of Jindal Steel & Power (Mauritius) Limited.
Wollongong Coal has applied for permission to expand mining at the Russell Vale colliery by further mining under the Cataract water catchment area.
Wollongong Coal is being investigated as to whether it is fit and proper to hold a mining license in the state of NSW. This article in the Illawarra Mercury, September 2016, covered the launch of the investigation: Wollongong Coal probed by NSW Resources Regulator
Three years after the investigation was launched, it is still ongoing… “Fit and proper mine regulation would be to conclude this swiftly” writes Ben Langford of the Illawarra Mercury in August 2019.
In India, charges are being framed against Naveen Jindal, Chairman of Jindal Steel and Power Ltd (JSPL). JSPL, via a holding company, JSPL Mauritius, is majority shareholder in Wollongong Coal Ltd. This article in Devdiscourse covers the charges. Fit and proper? What do you think?