Latrobe Valley coal mines' bonds
The Victorian Government is responding to the final report of the reopened Hazelwood Mine Fire Inquiry recommendations, to ensure adequate provision is made for Latrobe Valley mine rehabilitation into the future.
What did the report recommend?
The report recommended that the Minister for Resources should consider increasing, on an interim basis, the existing bonds to provide greater security to the State.
What decision was made?
The Minister for Resources accepted the recommendation to require a further rehabilitation bond from each coal mine. In response, the Minister decided that:
- further bonds to total 50 per cent of the Latrobe Valley coal mines' self-assessed rehabilitation liability must be provided to the Victorian Government by June 2016 (this is complete)
- further bonds to total 100 per cent of the self-assessed rehabilitation liability must be provided to the Victorian Government by 28 December 2016.
Learn more about the Minister for Resources original Statement of Reasons for his decision to require further bonds that total 50 per cent of the mine's self-assessed rehabilitation liabilities. The Minister for Resources issued a second Statement of Reasons regarding his decision to require further rehabilitation bonds that total 100 percent of the Latrobe Valley coal mines' self-assessed rehabilitation liabilities.
What are the next steps?
The Hazelwood Mine Fire Inquiry: Victorian Government Implementation Plan sets out the Victorian Government's actions in response to the recommendations.
A regional strategy is being developed for rehabilitation of the Latrobe Valley coal mines. This will modernise the regulation of Victoria's coal mines to ensure transparency and clarity for community and industry. A media release on Building a Healthier and Safer Latrobe Valley has further details.