The
Northern Territory Government's proposal to impose a new levy
on mining companies in order to fund the rehabilitation of legacy
mine sites is now a reality.
On 27 June 2013, the Northern Territory Legislative Assembly
passed amendments to the Mining Management Act (NT)
(MMA) to give effect to this proposal. The
amendments have not yet commenced, but according to the Government,
they will on 1 October 2013.
The amendments, made by the Mining Management Amendment Act 2013
(NT), mean that both new and existing mine operators will be
required to pay a non-refundable levy, calculated at 1% of the
security paid under their mining authorisation. Part of the levy
collected will be paid into a new Mining Remediation Fund,
established under the MMA and used to fund work to minimise and
rectify environmental harm caused by unsecured mining activities.
It is understood that, in return for the new levy, operators will
receive a 10% reduction in the level of security they
