Review creates greater security for mine rehabilitation
Source: Western Australia. Minister for Resources. Media Release
"The State Government has approved a new assessment system to encourage mine owners to fulfil their tenement obligations for mine closure and rehabilitation. Resources Minister Francis Logan said the new system would help reduce the State Government’s risk when these obligations were not met. Mr Logan said the new system was the key recommendation of a review of mining securities, conducted by the Department of Industry and Resources. He said the review had identified an increased financial risk arising from higher mining operational costs, changed community expectations and mine rehabilitation standards. “The review recommends industry provide Government with a more accurate measure of rehabilitation and mine closure costs in accordance with accepted accounting standards,” the Minister said. "