The Council of Australian Government Energy Council today endorsed a proposal to examine better rules to ensure energy and mineral companies deliver on their rehabilitation and decommissioning obligations.
The Council consists of petroleum, energy and mining ministers from all States and Territories, and the Australian Government.
Ministers noted the issues Western Australia highlighted, within the Corporations Act and the Australian Accounting Board Standards, regarding mine site rehabilitation and financial obligations.
They agreed the Resources and Engagement Working Group should investigate a nationally consistent approach to these issues and would report back to ministers by mid-2018.
The endorsement follows the Ellendale diamond mine incident, where the liquidator used a provision of the Corporations Act to renege on its environmental and financial responsibilities.
WA’s Mining Rehabilitation Fund is used to pay for outstanding rehabilitation.