The State Opposition says if elected in March it will declare the area a National Park so it can never be mined.
Illawarra Coal revised its plans to mine there in October after a the NSW Planning Assessment Commission released a report which found mining would cause irreversible damage to the area.
Company President, Colin Bloomfield says they plan to submit another mining proposal for the area after more research is carried out.
"We'd certainly be looking to continue our research," he said.
"You know there's adjacent miners who are mining in very similar areas directly under reservoirs.
"In fact you know we don't think that we should be singled out on this occasion"
Mr Bloomfield says he had no idea the State Opposition was planning to declare Dharawal State Conservation area a National Park if elected in March and he wants to meet with the Opposition leader as soon as possible.
"We're just disappointed we haven't been consulted on this before it's been announced and we're really just probably like everyone else just in the dark about what actually is being planned and what area is being covered or how big this is".
The Opposition Leader Barry O'Farrell says he'd be happy to meet up with the mining company.
"I'm happy to sit down with BHP but we start from a position that we're determined to protect the sensitive area that should be protected and we think National Park status is appropriate".
Julie Sheppard from environment group Rivers SOS says BHP Billiton should give up their leases and support protection of the area forever.
"If they are really listening to community concerns they would also then be happy relinquish their leases and allow the area to become a national park," she said.
"And I think if BHP wants to save any face or gain any mileage in terms of the PR coup here they could set themselves up as responsible corporate citizens and actually welcome this."
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