Queensland Treasurer David Janetzki and Mining Minister Dale Last announced a review of the scheme requiring resources companies to provide surety for remediation and rehabilitation costs when mines close. The review, announced in 2024, will examine the financial assurance scheme for mine rehabilitation.

Mining Minister Dale Last stated the review would ensure the scheme remained "fit for purpose" and supported "responsible resources development across Queensland without constraining investment." He noted that the financial provisioning scheme, which was introduced in 2019, has been a frequent concern for smaller mining companies and explorers. "The financial provisioning scheme has been one of the top three issues smaller mining companies and explorers continue to raise with me," Last said.

Last added that "Queensland has an enormous opportunity to become a global leader in critical minerals and the Crisafulli government is committed to cutting red tape to unlock the next wave of investment." Treasurer David Janetzki said the review aimed to "get the balance right between the highest environmental standards for rehabilitation and remediation" and "the right investment settings for junior miners and explorers to make a contribution to mining activity."

Data indicates the amount of unrehabilitated mined land in Queensland increased by 12% from 2019 to 2024. More than 223,684 hectares of land in Queensland remain unrehabilitated.

Why It Matters

The review of Queensland's mine rehabilitation financial assurance scheme follows an increase in unrehabilitated mined land. The scheme, established in 2019, aims to ensure resources companies cover remediation costs after mine closure. The stated goal of the review is to balance environmental standards with investment opportunities, particularly for smaller mining companies.