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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 the 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 a three-stage process. In response, the Minister decided that:  

  1. further bonds totalling 50 per cent of the Latrobe Valley coal mines' self-assessed rehabilitation liability must be provided to the Victorian Government by June 2016 (completed).
  2. further bonds totalling 100 per cent of the self-assessed rehabilitation liability must be provided to the Victorian Government by December 2016 (completed).
  3. further bonds to reflect the independently assessed rehabilitation liability and in line with the new Rehabilitation Bond Policy for the Latrobe Valley Coal Mines must be provided to the Victorian Government in August 2017 (now underway).

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.