"We're definitely not going to support their petition," Mr Borsak said on Friday after Christian Democrats Upper House MP Fred Nile and new One Nation Upper House MP Mark Latham backed a motion for debate of the compensation push in parliament.

Mr Nile lodged a motion last week saying he intended to lodge two bills for debate which would allow NuCoal investors to seek compensation after the Doyles Creek mine exploration licence was cancelled in 2014 following an Independent Commission Against Corruption inquiry.

Mr Nile also wants the NSW Supreme Court to render ICAC findings about the way the lease was granted to be made "null and void".

The motion follows a NuCoal media campaign in March to "promote shareholder innocence" over how the exploration licence was granted by the NSW Government in 2008.

The compensation bid was slammed by Hunter residents and groups who campaigned against the Doyles Creek mine and repeatedly asked ICAC to investigate the circumstances of the granting of the exploration licence.

Mr Borsak said he had not met with NuCoal or its supporters, but the company had had a short discussion with a party representative who made no commitment to the compensation bid or the motion to parliament.

"They tried to get a meeting with me before the election but I declined," Mr Borsak said.

"As it stands at the moment we'll not be supporting this. We don't think investors of any kind should be remunerated by NSW taxpayers," Mr Borsak said.

"It was all on the public record about the controversy over the exploration licence before people invested, so why should we be looking at compensating investors?"

He criticised the NSW Government for its handling of the Doyles Creek case after Premier Barry O'Farrell's Coalition Government cancelled the licence in 2014.

He said the Berejiklian Government was "getting Fred Nile to do their dirty work for them" by putting forward the motion.

He said NuCoal "hasn't won any friends by running around parliament house saying the Shooters support them".