A group of New South Wales coal miners have lost their High Court challenge to a law that struck out their exploration licences.

The Independent Commission Against Corruption (ICAC) found the process under which the licences for areas near Doyles Creek, Mount Penny and Glendon Brook was tainted by corruption.

Lawyers for Doyles Creek owner NuCoal - as well as Cascade Coal and its director Travers Duncan, which had licences for the other two areas - told the High Court a law which stripped them of their licences was unconstitutional.

However, the High Court found there was no case to answer.

The corruption findings centred around the activities of former Labor ministers including Ian McDonald and Eddie Obeid, as well as Mr Duncan.

In 2013, the ICAC found a number of people had engaged in corrupt conduct relating to the granting of the licences.

The NSW Parliament passed an amendment to the Mining Act, effectively cancelling the licences, in January 2014.

Acting Premier Troy Grant said the court decision had drawn a line under a sorry saga.

"The cancellation of these licenses was recommended by the ICAC," Mr Grant said.

"The ICAC found these licences were tainted by corruption involving former Labor ministers Ian Macdonald and Eddie Obeid.

"This decision ensures the ongoing integrity of our resource allocation process."

NuCoal's US investors are also taking action under the Free Trade Agreement.

The company has always maintained it has done nothing wrong, with the allegations relating to a time before it owned Doyles Creek.

In a statement, chairman Gordon Galt said the company was also pursuing "legal redress for our innocent shareholders" through a NSW Supreme Court judicial review.

"A decision is pending and we note that the judicial review canvasses legal arguments quite separate to those considered by the High Court," Mr Galt said.

"Naturally we are disappointed not to have prevailed in the High Court, however our actions in the Supreme Court of NSW and under the US‐Australia Free Trade Agreement continue."