Job-creating mine reforms take effect
New mining reforms that will give old mines another shot at life, encourage new mines to be built and toughen financial checks and balances on mining lease holders take effect today.
The reforms help ensure the right people and companies hold mining leases in Queensland – so that more jobs are created – and also act as insurance for Queensland taxpayers by reducing the risk of mines being disclaimed.
People can now be disqualified from being granted or transferred a mining lease if they have been convicted of an offence involving fraud or dishonesty, or have a history of insolvency or bankruptcy.
Large mineral mines, including gold, copper and zinc mines, will now need a development plan showing a set timeline for when and how they plan to develop a mine and grow jobs.
Over the past five years, several large mines have been disclaimed after the company went into liquidation. With these reforms, old mines that are still commercially viable can also be given another shot at life by being put out to competitive tender.
The reforms that come into effect from Monday 7 September are the final provisions from the Mineral and Energy Resources and Other Legislation Amendment Act 2020 that was passed by the Queensland Parliament on 20 May 2020.
Under the Act the Queensland Government has introduced measures to:
- strengthen safety laws in the resources sector
- improve financial assurance and whole-of-government mine rehabilitation reforms
- improve the administration and efficiency of the regulatory framework applying to resource projects.
For more information on the Act and related reforms, visit: https://www.dnrme.qld.gov.au/mining-resources/initiatives/merola
Last updated 7 September 2020