Gunns gets another week on pulp mill verdict

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Gunns gets another week on pulp mill verdict

Federal Environment Minister Tony Burke has extended the deadline decision on the impact of Gunns' proposed pulp mill at Bell Bay, Tasmania, for another week.

Mr Burke said representatives from Gunns contacted his department yesterday indicating that the company was seeking tougher environmental controls than contained in the original application.

Gunns shares entered a trading halt at 53.5 cents, down 1 cent for the day.

"The company further sought that these more stringent environmental controls be incorporated with the other decisions I am to make on the environmental impact management plan," Mr Burke said in a statement today.

"My department needs to assess these proposed variations to the original pulp mill proposal and allow the Independent Expert Group to examine these variations."

The original deadline set by former environment minster Peter Garrett in January 2009 was March 3.

"I am extending that deadline for a further week until March 10," Mr Burke said.

"I expect these processes will be complete and I will be in a position to consider updated advice from my department next week."

Gunns asked for the halt in trading for its shares pending the pulp mill announcement.

Its shares are off 14 per cent in 2011 compared with a 1 per cent gain for the ASX200 benchmark index.

AAP

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