Young Mining suspension notice lifted

The NSW Department of Industry’s Resources Regulator has lifted its suspension notice on Young Mining after it had failed to pay its environmental rehabilitation security deposits.

The company, a subsidiary of Orind Australia, had its license suspended last month after owing more than $500,000 in deposits.

The Department of Industry said the company “provided the required security in accordance with the Department’s policy by way of a deed of security deposit bond issued by an Australian Prudential Regulation Authority (APRA) supervised financial institution”.

After initially being trialled in the Land and Environment Court, the case was then taken to the Supreme Court, which upheld the suspension.

At the time, NSW Resources Regulator chief compliance officer Lee Shearer said the company had been warned of the outstanding fees since 2013 and were given enough time to pay the deposit, calling the suspension “appropriate and reasonable”.

“The Government’s position on this issue is very clear – environmental rehabilitation costs must be met by the mining licence holder,” Shearer said.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.