Minister for Environment and Water

Dr CLOSE (Port Adelaide—Deputy Leader of the Opposition) (14:04): My question is to the Minister for Environment and Water. Did the minister consider selling his shares in the coalmining company South32 after it was reported that its mine expansion plans would have long-term and irreversible environmental impacts.? With your leave, sir, that of the house, I will explain.

Leave granted.

Members interjecting:

The SPEAKER: Order! The deputy leader has the call.

Dr CLOSE: In February of this year the New South Wales Planning Commission refused to approve the expansion of South32, finding that the adverse environmental impacts would be long term and irreversible.

The Hon. D.J. SPEIRS (Black—Minister for Environment and Water) (14:05): This was brought to my attention at the time, and I was disappointed by that, but unfortunately the Ministerial Code of Conduct, I think, precludes either the buying or selling of shares, so it would be difficult, I think, unless a particular conflict were to arise, and so—

Members interjecting:

The Hon. D.J. SPEIRS: Well, I'm not sure that a conflict has arisen: it is just an ethical situation. I suppose that, from my point of view, I certainly would not be expanding on that investment at any point in the future, but I am quite comfortable holding those shares, which I have held for many, many years. South32, I think, is or was a subsidiary of BHP, and so anyone who has investments in BHP probably has some level of exposure to South32 because it was split away six or seven years ago I believe.