Location of salmon farms in Tasmania. (Photo: Stock File/FIS)
Tassal joins legal battle on the Tasmanian govt. side
AUSTRALIA
Wednesday, February 22, 2017, 22:50 (GMT + 9)
Salmon producer Tassal will join a legal battle over the development of aquaculture in Macquarie Harbour, from the side of the Tasmanian Government and against the position of its rival, Huon Aquaculture.
Earlier this month, Huon Aquaculture initiated federal court proceedings against Tasmanian Environmental Protection Agency (EPA).
It argued it used the measure to prevent further environmental degradation at Macquarie Harbour, on the west coast of the island.
For its part, the Tasmanian Government said it would "vigorously" defend itself in legal action over its management in that area.
In January, EPA ordered Tassal to destock its Franklin lease in Macquarie Harbour, after finding 14 non-compliance issues.
“With respect to Macquarie Harbour, Tassal has traditionally put around 2 million smolt to sea,” a company’s statement indicated, The Mercury reported.
In addition, in response to environmental concerns, it has committed to reduce the number of young salmon it stocks in Macquarie Harbour by almost half, but aims to grow more smolts elsewhere on the southeast coast of Tasmania.
Initially, Tassal had said that it would not participate in the legal actions initiated by Huon Aquaculture. But now, after Tasmanian producers reported higher profits - thanks to better weather conditions and higher prices - it announced on the Stock Exchange that it has decided to join the legal battle on the side of the Tasmanian government.
Tassal Group’s shares moved up by more than 5 per cent after the company released its statements to the market, including a half-yearly report showing first-half net profit had lifted 9.7 per cent.
In its report, the company stressed that favourable prices in wholesale and export markets were expected to continue into the 2017/18 financial year.
Related articles:
- Tassal ordered to destock a salmon farming centre
- Huon initiates legal actions against Tasmanian government
- Regulating entity recommends salmon biomass cut in Macquarie Harbour
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