The bond calculator has been developed to address the need to provide a consistent methodology for estimating rehabilitation costs for extractive, exploration and mining operations.
The calculator is also useful in the initial planning of an operation for predicting quarry / mine closure costs well in advance and for designing the staging of an operation to minimise the area disturbed and to maximise progressive rehabilitation.
The regulatory basis is that mine or quarry operators are required by the Mineral Resources Sustainable Development Act to submit a bank guarantee of their rehabilitation liabilities to Earth Resources prior to the commencement of site works. The rehabilitation liability is based on third party contractor rates to cover the cost of site rehabilitation should the site operator default on their licence requirements.
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Establishment and management of rehabilitation bonds
Find out more about our rehabilitation bonds policies and the methods used in assessing rehabilitation liability for mining and extractive operations.
Page last updated: 16 Apr 2020