Mineral and Energy Resources (Financial Provisioning) Bill 2018
Bill Story
The journey of this bill through Parliament, including debate and recorded votes.
Referred to Economics and Governance Committee
Vote on a motion
The motion was rejected.
A formal vote on whether to accept a proposal — this could be the bill itself, an amendment, or another motion.
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Ayes (41)
Noes (47)
That the amendment be agreed to
Party VoteThe motion was defeated.
What is a party vote?
This was a party vote. Each party's Whip declared how their members voted without a physical count, so individual votes were not recorded. Party votes are used when all members of a party are expected to vote the same way.
That the amendments be agreed to
Party VoteThe motion passed.
What is a party vote?
This was a party vote. Each party's Whip declared how their members voted without a physical count, so individual votes were not recorded. Party votes are used when all members of a party are expected to vote the same way.
Plain English Summary
Overview
This bill creates a new financial provisioning scheme to protect Queensland from the cost of mine rehabilitation when companies fail to meet their obligations. It replaces the previous individual financial assurance system with a pooled fund where companies pay contributions based on their assessed risk level, and requires all major mines to have Progressive Rehabilitation and Closure Plans with enforceable milestones.
Who it affects
Mining and resources companies face new requirements to pay into the scheme fund and develop rehabilitation plans with binding timelines. Queensland taxpayers gain better protection from bearing cleanup costs when mines are abandoned or companies fail.
Key changes
- Creates a Financial Provisioning Fund where mining companies pay annual contributions based on risk category (very low, low, moderate, or high) - higher risk companies must provide full surety instead
- Requires Progressive Rehabilitation and Closure Plans (PRC plans) for all mines with site-specific environmental authorities, including enforceable milestones for rehabilitation throughout the mine's life
- Introduces Estimated Rehabilitation Cost (ERC) decisions that must be in force before mining activities can occur - companies must reapply when circumstances change
- Establishes strict criteria for 'non-use management areas' where rehabilitation to a post-mining land use is not proposed
- Requires three-yearly independent audits of PRCP schedules and creates new offences for non-compliance with rehabilitation milestones (up to 4,500 penalty units)
- Fund can also be used for abandoned mine remediation and rehabilitation research