WA mining firms now obliged to contribute to rehab fund
PERTH (miningweekly.com) – The Western Australian government’s mining rehabilitation fund (MRF) has become compulsory for all miners operating in the state, with the Department of Mines and Petroleum (DMP) imposing a fine on companies that did not contribute to the MRF.
Minister Bill Marmion noted that more than 95% of tenement holders had met the June 30 compliance deadline to register with the MRF
“From today most mining companies will have to contribute to the fund, which will ensure mine sites in Western Australia are rehabilitated to the highest standards,” Marmion said.
“The vast majority have done the right thing but, unfortunately, the holders of more than 1 000 tenements had not registered by yesterday’s deadline and can expect to receive fine notices shortly.”
Companies will have 30 days to pay the $4 000 fine.
Speaking to delegates at the Association of Mining and Exploration Companies (Amec) Convention, the Minister said the MRF, which largely replaced the state’s environmental bonds policy, would provide better outcomes for the environment, industry and the community.
“Most significantly, the fund has freed up much needed investment capital, and has reduced imposts on industry because its risk-based approach to mining securities avoids duplication and overlapping processes.”
Yearly contributions to the fund would be calculated on the amount and type of ground disturbed as a result of exploration and mining activities. Interest earned from the fund would be used to rehabilitate abandoned and legacy mine sites across the state.
Marmion told the Amec Convention that once yearly invoices have been paid, the DMP would review existing environmental bonds on tenements to see if they were eligible to be retired.
The government was aiming to retire up to A$1-billion in bonds over the next 12 months.
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