WA Gov returns $6 million in rehab bonds

More than $6 million in performance bonds on dead tenements have been returned following the implementation of the Mining Rehabilitation Fund.

Dead tenements are those on which the former holder has exploration or mining rights over the land, either due to the time period expiring or the tenement has been surrendered or forfeited.

WA DMP director general Richard Sellers said that bonds on dead tenements are able to be retired once all land disturbance from mining has been rehabilitated.

“Dead tenements cannot enter the MRF so any bonds associated with these tenements can only be retired once the department is satisfied that all land disturbance has been rehabilitated,” Sellers said.

“Almost $11 million in unconditional performance bonds were being held for nearly 400 dead tenements at the beginning of 2014.

“The department’s MRF team has been investigating these tenements and liaising with the former tenement holders,” he said.

“Where we are satisfied that all disturbance has been fully rehabilitated of absorbed into another operation, the bonds have been returned.

“A number of operators have indicated that they will now complete the rehabilitation work required on their tenements to enable the retiring of their bonds.”

Sellers added that those who don’t comply with requirements of their performance bonds will have their bonds called in.

 

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