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Queensland Government to introduce new Financial Assurance framework and progressive rehabilitation requirements – are you ready?
In February 2018, following various reviews and extensive consultation, the Queensland Government introduced the Minerals and Energy Resources (Financial Provisioning) Bill 2018. The Bill provides for significant changes to the financial assurances framework and amendment to the Environmental Protection Act (EP Act) to implement rehabilitation reforms including progressive rehabilitation and closure plans. Recent cases of resource companies unable to complete their rehabilitation activities have highlighted to the Government issues with the financial assurance framework.
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