
Bonding exercise restores land
MINING security bonds were introduced in WA in the late 1980s as insurance against companies not adequately rehabilitating mine sites. As the bonds covered only a fraction of mine rehabilitation costs, successive WA Governments were forced to contribute the majority of funds; an unsustainable model, as mining interests in the state continue to soar. Under new State Government legislation announced by WA Mines minister Norman Moore on August 15, the innovative Mining Rehabilitation Fund (MRF) will be established in place of the bonds system. Under the MRF, mining companies will pay a predetermined amount each year into a pooled fund instead of the entire bond amount up front. Mr Moore said the State Government recognised the current bond system needed…