WA’s resources industry is being urged to sign up to the Mining Rehabilitation Fund (MRF) by the state government.
The fund, which largely replaces environmental bonds, was introduced on a voluntary basis earlier this year and will become compulsory from July 2014.
“It is important that people sign up for the fund by July 1 next year, otherwise they run the risk of being fined for non-compliance,” WA’s Mines and Petroleum Minister Bill Marmion said.
The Minister said the new fund would benefit industry, the community and the environment.
“The new system frees up money that was previously tied up in bonds, encourages ongoing rehabilitation, and ensures rehabilitation costs are adequately covered,” he said.
“The changes do not affect the strict environmental standards required for mine closure.”
Mr Marmion said more than $250 million in bonds had been returned to companies and individuals since the fund was established.
“This is money that was previously sitting idle. To have that money back in the hands of companies to reinvest in Western Australian projects and Western Australian jobs is a win – win situation.”
In order to make sure the industry is informed of the deadline, environmental officers from the Department of Mines and Petroleum (DMP) will be at the following regional offices on these dates:
- Kalgoorlie: Monday November 4 – Wednesday November 6
- Coolgardie: Wednesday November 6, 9am-1pm
- Karratha: Thursday November 7
- Southern Cross: Monday November 11, 12pm-5pm
- Bunbury: Monday November 11
“This gives people the opportunity to use the department’s expertise to help sign up for the MRF and, if eligible, have their existing bonds retired,” Mr Marmion said.
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