Renergen (ASX:RLT) said Springbok Solar Power Plant's construction at its Tetra4 unit's production right area without consent is a "threat" to mineral right holders across the South African mining industry, according to a Wednesday filing with the Australian bourse.
Tetra4 held onshore petroleum production rights in the area since 2012 granted by the Mineral and Petroleum Resources Development Act, and construction without the unit's consent invalidates its pre-existing rights and protections under the Act, the filing said.
This will erode investor confidence in the mining industry as a whole, the company said in the filing.
Sola Group, which owns the Springbok project, did not immediately respond to a request for comment from MT Newswires.
Shares of the liquefied natural gas producer fell almost 2% in recent Wednesday trade.
Price (AUD): $0.66, Change: $-0.01, Percent Change: -1.49%
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