14 Jul 2021
BATHURST RESOURCES LIMITED v L & M COAL HOLDINGS LIMITED [2021] NZSC 85
- Citation
- [2021] 1 NZLR 696
- Court
- Supreme Court
The majority held that clause 3.4's word 'shipped' is to be read as 'transported' from the permit areas (so the first performance payment was triggered once 25,000 tonnes had been transported off the permit areas), and that clause 3.10 (Third Deed) was a concession that allows deferral of a performance payment only while the relevant royalty payments continue as payable under the royalty deed and in practice reflect ongoing mining at levels consistent with that which triggered the payment; on that construction the appellants prevailed and judgment was entered for them (appeal allowed).