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ARTICLE · 12 APRIL 2019

MERFP – Environmental insurance sureties in Queensland

McCullough Robertson
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The MERFP Act changed the face of financing environmental remediation liabilities for Qld mining and resource projects.

AustraliaEnergy and Natural Resources
Brad Russell
Brad Russell
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WHO SHOULD READ THIS

  • CEOs, CFOs and project managers of Queensland mining operations

THINGS YOU NEED TO KNOW

  • As outlined in our most recent Focus Article the newly enacted Mineral and Energy Resources (Financial Provisioning) Act 2018 (Qld) (Act) has changed the face of financing environmental remediation liabilities for mining and resource projects in Queensland;
  • As of April 1 2019, mining operators in Queensland can participate in an alternative Financial Assurance (FA) mechanism to alleviate some of their working capital pressures by contributing to the Queensland Government (State) managed Pooled Scheme Fund (PSM), or in some cases, by way of surety bonds underwritten by insurance companies; and

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