Mining firms have exhausted their final avenue of appeal against NSW laws that cancelled coal licences following probes into figures including former Labor powerbroker Eddie Obeid.
The state government last year passed legislation to tear up exploration licences for Mount Penny, Doyles Creek and Glendon Brook in line with recommendations from the ICAC, after the watchdog's investigations into figures including Mr Obeid and ex-mining minister Ian Macdonald.
Former ICAC commissioner David Ipp described the licences as "so tainted by corruption that (they) should be expunged or cancelled".
The companies that held the licences - the ASX-listed NuCoal Resources, along with Cascade Coal and its former director Travers Duncan - launched a challenge to the 2014 mining amendment.
They argued that in passing the legislation the NSW parliament had exercised judicial powers it did not have under the constitution.
But on Wednesday the High Court unanimously found that the state was acting within its powers.
Acting NSW Premier Troy Grant welcomed the ruling.
"This decision ensures the ongoing integrity of our resource allocation process, and draws a line under this sorry saga," he said.
It means the miners will not be able to sue the NSW government for compensation.
It has also saddled NuCoal, Cascade and Mr Duncan with the costs of the appeal.
NuCoal was placed in a trading halt on Wednesday morning and is expected to make an announcement to the market.
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